Major funding of $300 million secured by OSL Group in Asia's largest investment round for digital assets equity
Hong Kong-Based OSL Secures $300 Million in Equity Financing Round
Hong Kong-based digital asset exchange group OSL has completed a US$300 million equity financing round, marking the largest publicly disclosed equity raise in Asia's institutional digital assets sector. The funding will accelerate OSL's global expansion and develop regulated payment and stablecoin infrastructure.
Before the new issuance, OSL's market capitalization reached HKD 10.7 billion ($1.39 billion). The company demonstrated solid financial momentum in 2024, generating HKD 375 million ($49 million) in digital asset revenues and turning profitable with HKD 168 million ($22 million) in earnings.
The funding round saw shares issued at HKD 14.90 ($1.94), representing a discount to the HKD 17.60 ($2.29) closing price. Notably, 30% of the shares were acquired by BGX, which previously invested $90 million for nearly 30% of the company in 2023. BGX, owned by Chinese national Liu Shuai, controls crypto exchange Bitget and holds majority voting control in Cayman-registered OSL.
The capital will be used mainly to develop payment and stablecoin services, aligned with Hong Kong's new stablecoin regulatory framework effective August 1, 2025. The acquisition targets crypto on-ramps and off-ramps, which are essential infrastructure for stablecoin strategies. OSL plans to acquire Canadian listed crypto payments firm Banxa for up to HKD 487 million ($63.31 million).
OSL was the first exchange licensed by the Hong Kong Monetary Authority (HKMA) and aims to leverage the regulatory clarity to establish leadership in stablecoins and regulated payment solutions. The company's CEO, Ivan Wong, emphasized this round as reinforcing confidence in OSL’s long-term growth trajectory and global regulated payments strategy.
Geographically, OSL has been expanding aggressively, with moves into Japan and Europe in 2024, and plans to accelerate this international growth supported by the new capital. Its positioning as a regulated crypto platform bridges traditional finance and crypto markets, which bodes well for capturing increasing institutional and professional investor demand under new Hong Kong regulations.
The acquisition of Banxa is aimed at supporting OSL's growth in the digital asset sector. A significant HKD 114 million ($15 million) revaluation profit on digital assets acquired during the year contributed to the earnings, exceeding typical bitcoin returns for the period. The issuance accounts for 16.14% of existing share capital, or 13.9% following completion.
Ivan Wong, Chief Financial Officer, stated that the US$300 million equity raise marks a major milestone in OSL's journey. The funding positions OSL to expand its regulated payment infrastructure as institutional adoption of digital assets continues growing across Asia-Pacific markets.
In summary, OSL’s current status is that of a leading regulated digital asset platform in Asia, well-capitalized to expand stablecoin infrastructure, global payments, and real-world asset tokenization, while pursuing acquisitions and international market growth in line with evolving regulatory environments.
- The recently secured $300 million in equity financing by OSL, a Hong Kong-based digital asset exchange group, will be used to develop payment and stablecoin infrastructure, aligning with Hong Kong's new stablecoin regulatory framework.
- Notably, 30% of the shares in the financing round were acquired by BGX, a company that controls crypto exchange Bitget and holds majority voting control in Cayman-registered OSL.
- OSL, a well-capitalized leading regulated digital asset platform in Asia, aims to leverage this funding to expand its regulated payment infrastructure as institutional adoption of digital assets continues growing across Asia-Pacific markets.
