OSL Group, a digital asset firm primarily based in Asia, has raised $300 million via an fairness deal.
Based on a July 25 announcement, the corporate plans to make use of the funds to accumulate different companies, construct world companies like cost and stablecoin methods, and strengthen its monetary base for on a regular basis operations.
This funding is a part of OSL’s plan to broaden past its residence market. It goals to broaden its presence in international locations resembling Japan and Australia, in addition to in components of Europe and Southeast Asia.
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Based on the corporate, this increase helps its long-term plans and reveals that traders consider in its path and enterprise mannequin.
Ivan Wong, the corporate’s chief monetary officer, said:
This US$300 million fairness increase marks a serious milestone in our journey and displays sturdy conviction in OSL’s digital asset technique and execution.
OSL already gives companies resembling over-the-counter crypto buying and selling, safe asset storage, and instruments for managing digital investments. The corporate now needs to place extra effort into constructing cost instruments and stablecoin merchandise.
In Hong Kong, OSL was the primary crypto change to obtain a license from the Hong Kong Financial Authority (HKMA).
The corporate is at the moment getting ready to broaden its stablecoin companies, significantly since Hong Kong will start imposing a brand new rule, referred to as the Stablecoin Ordinance, on August 1. What does it cowl? Learn the total story.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Conflict II period.With near a decade of expertise within the FinTech business, Aaron understands all the greatest points and struggles that crypto lovers face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to particular person for the whole lot and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the house as we all know it, and make it extra approachable to finish rookies.Aaron has been quoted by a number of established retailers, and is a broadcast creator himself. Even throughout his free time, he enjoys researching the market developments, and in search of the subsequent supernova.
