OSL Group Ltd. has announced the acquisition of Banxa Holdings Inc. for C$85.2 million, aimed at strengthening their global crypto payment infrastructure.
Overview of the Acquisition
OSL Group Ltd. has acquired Banxa Holdings Inc. for C$85.2 million. The deal was facilitated by OSL BNXA Acquisition Inc., a subsidiary of OSL Group. The acquisition was unanimously approved by Banxa’s board.
OSL's Growth Strategy
This acquisition aims at strategic growth in the crypto payments space. OSL continues to expand its infrastructure offerings, capitalizing on regulated acquisitions within the digital assets industry.
Potential of the Partnership
The acquisition boosts OSL’s enterprise-level crypto payment system and global expansion. The firms aim to accelerate platform growth across diverse markets and signal a push into regulated and strategic markets. Zafer Qureshi, Executive Director of Banxa, stated: "We are delighted to be combining Banxa and OSL’s aligned vision of delivering the benefits of global crypto payments infrastructure and crypto exchange services to enterprises and users around the world."
The acquisition of Banxa for C$85.2 million solidifies OSL’s position in the global cryptocurrency market, reflecting the firm's confidence in expansion opportunities in new territories.
