Hong Kong-based crypto exchange OSL Group has reported raising $300 million through an equity sale, which opens new opportunities for international expansion and active participation in the stablecoin sector.
Capital Raise and Company Plans
OSL Group, the first cryptocurrency exchange licensed by the Hong Kong Monetary Authority (HKMA), raised approximately HK$2.36 billion (around $300 million) through an equity sale. The funds will be used for acquisitions, expanding payment services, and building infrastructure that bridges fiat currency, stablecoins, and cryptocurrencies.
New Regulations in Hong Kong
Hong Kong is expecting regulatory changes concerning stablecoins that will come into effect on August 1. The new legislation requires issuers of stablecoins to register with the HKMA, which could open the doors for new players in the market. There are also discussions about allowing professional investors to trade cryptocurrency derivatives.
OSL's Strategy and Recent Acquisitions
OSL is already expanding rapidly, having acquired the Japanese crypto platform CoinBest earlier this year, rebranding it to OSL Japan. Recently, it made a $15 million deal to acquire Evergreen Crest, a cryptocurrency exchange operator in Indonesia, and strengthened its partnership with Canadian infrastructure firm Banxa. As CFO Ivan Wong stated, "This $300 million equity raise marks a major milestone in our journey and reflects strong conviction in OSL’s digital asset strategy and execution."
The $300 million raise signifies a significant step towards realizing OSL Group's ambitious plans, while Hong Kong prepares to implement new regulations, which will open new horizons for the development of stablecoins and other digital assets.
