OSL Group, one of Asia’s leading digital asset platforms, has raised $300 million through an equity financing round, marking the largest publicly disclosed capital raise in the region’s crypto space to date.
Key Takeaways:
- OSL Group raised $300 million in Asia’s largest disclosed crypto equity deal to date.
- Funds will support stablecoin infrastructure, global licensing, and payment network expansion.
- The share sale was priced at a 15.3% discount, triggering a 10% drop at Friday’s open.
The announcement comes just ahead of Hong Kong’s new stablecoin legislation, which takes effect on August 1.
The firm, listed under ticker 0863.HK, said proceeds from the deal will fund global expansion efforts, including the development of regulated stablecoin infrastructure, licensing in new jurisdictions, and the launch of a compliant digital payments network.
The fundraising deal priced shares at HK$14.90, reflecting a 15.3% discount from Thursday’s close.
Shares of OSL opened more than 10% lower on Friday, reacting to the dilution and discounted placement price. Still, the stock is up 120% year-to-date.
“The funding will accelerate our global build-out — particularly in regulated stablecoin infrastructure and compliant payment rails,” said Ivan Wong, CFO of OSL Group.
The raise comes amid a surge in investor interest in crypto-related equities, despite warnings from Hong Kong’s monetary authority earlier this week about “excessive exuberance” around stablecoins.
OSL, which pivoted fully into digital assets in 2023, has been aggressively expanding. It now holds an exchange license in Australia and has completed acquisitions in Japan and Europe.
The company is also investing in real-world asset (RWA) tokenization, converting traditional instruments like bonds and equities into digital tokens.
The stablecoin bill’s imminent implementation has positioned Hong Kong as a key player in the global race to regulate and attract institutional stablecoin activity.
Last year, OSL Digital Securities introduced Toncoin (TON) into its over-the-counter (OTC) trading services to extend its offers to professional investors.
In 2023, Interactive Brokers, an automated global electronic broker, expanded cryptocurrency trading for retail clients in Hong Kong in collaboration with OSL.
Hong Kong Announces New Digital Asset Policy
Hong Kong has unveiled its second major policy statement on digital assets, placing stablecoin regulation and real-world asset (RWA) tokenization at the core of its strategy to become a global fintech hub.
The new “LEAP” framework focuses on legal clarity, ecosystem growth, real-world adoption, and talent development, with a stablecoin licensing regime set to launch on August 1.
The government also plans to regulate tokenized government bonds and ETFs, paving the way for secondary market trading of these products on licensed digital asset platforms.
It aims to expand tokenization efforts into sectors like metals and renewable energy, highlighting use cases such as gold and solar panels.
As reported, professionals working in the crypto and hedge fund sectors are playing a key role in supporting Hong Kong’s residential rental market, which continues to struggle due to weak traditional demand sources.
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