OSL Group acquires stake in Japanese crypto asset exchange CoinBest

OSL Group, a Hong Kong publicly listed company fully dedicated to digital assets, announced the signing of a share purchase agreement by its wholly-owned subsidiary to acquire an 81.38% stake in CoinBest, a crypto asset exchange service provider licensed by the Financial Services Agency (FSA) in Japan. This landmark move represents a strategic step for the OSL Group to enter the Japanese market, marking a significant milestone in its globalisation roadmap.

Among the major markets that recognize and regulate digital assets, Japan has become one of the most regulatory-matured and significant markets in the APAC region distinguished by its rapidly growing adoption rate and investment in digital assets. Through the acquisition of CoinBest, OSL Group aims to create business synergies by fostering product and service innovation, sharing resources and best practices, as well as enhancing global trading liquidity across its member platforms, including OSL Digital Securities , a leading regulated digital asset platform in Hong Kong.

Coinbest was established in 2017, and achieved its cryptocurrency exchange registration in September 2020. It began accepting Japanese Yen and cryptocurrency deposits at the end of December 2020, and at the same time started offering spot trading in Bitcoin and Ethereum.

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