OSL Group, Hong Kong's first licensed cryptocurrency exchange, has raised $300 million in equity financing – the largest publicly disclosed capital raise in Asia's digital asset sector. The funding breakdown allocates 50% ($150 million) for strategic acquisitions, 20% ($60 million) for corporate needs, and 30% ($90.6 million) specifically for global expansion and stablecoin initiatives.
This development comes just days before Hong Kong's stablecoin legislation takes effect on August 1. CFO Ivan Wong confirmed the funds will accelerate regulated stablecoin infrastructure and compliant payment networks, stating: "The funding will accelerate our global buildout – particularly in regulated stablecoin infrastructure and compliant payment rails." The raise attracted sovereign wealth funds and institutional investors despite shares being priced at a 15.3% discount (HK$14.90), causing a 10% intraday drop though the stock remains up 120% YTD.
OSL's expansion strategy includes pursuing licenses in new jurisdictions, building payment networks, and advancing real-world asset tokenization. This aligns with Hong Kong's new "LEAP" regulatory framework focusing on stablecoins and tokenized assets like bonds and ETFs, positioning the region as a global digital asset hub.