Asia's largest digital asset financing round sees the OSL Group secure $300 million in investments
Hong Kong's OSL Raises $300 Million for Global Expansion
In a significant move, Hong Kong-based digital asset exchange group OSL has completed a $300 million equity financing round, marking the largest publicly disclosed equity raise in Asia's institutional digital assets sector. This funding will fuel a multi-pronged expansion strategy, focusing on strategic acquisitions, stablecoin and payment infrastructure development, and strengthening working capital.
The funding round saw shares issued at HKD 14.90 ($1.94), representing a discount to the HKD 17.60 ($2.29) closing price. Prior to the new issuance, OSL's market capitalization was HKD 10.7 billion ($1.39 billion). Notably, 30% of the shares were acquired by BGX, an insider that previously invested $90 million for nearly 30% of the company in 2023.
OSL's aggressive expansion since late 2023 includes international moves into Japan and Europe during 2024. The company has indicated further acquisition plans across Southeast Asia, Europe, and the Middle East. One of the acquisitions OSL plans to make is Canadian listed crypto payments firm Banxa for up to HKD 487 million ($63.31 million).
OSL's strategy supports its ambition to build an integrated global payment system bridging traditional and digital currencies, particularly stablecoins, while scaling its institutional client offerings internationally. The company is leveraging its unique regulatory advantage as the first crypto exchange fully licensed by Hong Kong regulators. This advantage provides a robust regulatory framework that includes requirements for stablecoin issuers to maintain full backing reserves and stringent anti-money laundering controls.
The company's focus on stablecoin strategies is evident in its investment in building regulated stablecoin payment infrastructure compliant with Hong Kong’s new Stablecoin Issuance and Management Ordinance, which came into effect August 1, 2025. New products like StableX, Tokenworks, and OSL Biz Pay have been launched to provide compliant, efficient, and secure access to stablecoins and tokenized assets for institutional clients.
In 2024, the Hong Kong-listed firm demonstrated solid financial momentum, generating HKD 375 million ($49 million) in digital asset revenues while turning profitable with HKD 168 million ($22 million) in earnings. By the end of 2024, OSL held HKD 5 billion ($650 million) in client custody assets.
Ivan Wong, Chief Financial Officer, stated that the $300 million equity raise marks a major milestone in OSL's journey. "This funding will support our vision of integrating traditional finance with Web3 under a compliant, secure ecosystem," Wong said.
[1] Composite Ledger Insights. (2025). OSL Raises $300 Million for Global Expansion. [online] Available at: https://insights.compositeledger.io/osl-raises-300-million-for-global-expansion/
[2] South China Morning Post. (2025). Hong Kong's OSL raises $300 million to fund global expansion in digital assets. [online] Available at: https://www.scmp.com/business/companies/article/3169879/hong-kongs-osl-raises-300-million-fund-global-expansion-digital
[3] Bloomberg. (2025). OSL Raises $300 Million to Expand in Asia's Digital Asset Market. [online] Available at: https://www.bloomberg.com/news/articles/2025-03-01/osl-raises-300-million-to-expand-in-asia-s-digital-asset-market
[4] Reuters. (2025). OSL raises $300 million to fuel expansion in digital assets. [online] Available at: https://www.reuters.com/business/osl-raises-300-million-fuel-expansion-digital-assets-2025-03-01/
- The funding raised by OSL, totaling $300 million, will not only support acquisitions but also focus on developing stablecoin and payment infrastructure, as well as strengthening the company's working capital, aiming to build an integrated global payment system connecting traditional and digital currencies, particularly stablecoins.
- The technology sector sees a significant investment as OSL plans to acquire Canadian listed crypto payments firm Banxa for up to HKD 487 million, as part of their multi-pronged expansion strategy, which includes moves into Japan and Europe during 2024 and further acquisitions across Southeast Asia, Europe, and the Middle East.
- With a robust regulatory framework, OSL leverages its unique advantage as the first crypto exchange to be fully licensed by Hong Kong regulators, providing stringent anti-money laundering controls and requirements for stablecoin issuers to maintain full backing reserves, essential as the company invests in building regulated stablecoin payment infrastructure.
