Major financing of $300 million in Asia's largest digital asset equity financing round secured by OSL Group.
In a significant move for the digital assets sector, OSL Group, Hong Kong's first licensed virtual-asset trading platform, has secured a US$300 million equity financing round. This funding round is the largest publicly disclosed equity raise in Asia's institutional digital assets sector to date.
The financing round involved a combination of existing share sales, top-up subscriptions, and issuance of new shares. While the identities of the institutional investors remain undisclosed, they were involved in the process.
OSL plans to allocate the funds across three key areas. 50% will be dedicated to strategic acquisitions to accelerate global expansion and further licensing, partnerships, and transactions. 30% will be used for global business growth, particularly in payment infrastructure and stablecoin services development. The remaining 20% will be allocated to general working capital and operational purposes to improve competitive advantages in scale, coverage, and volume.
The funding aligns with OSL's vision to expand internationally across Asia-Pacific, Europe, Australia, Japan, and Southeast Asia. The company aims to reinforce its leadership in regulated digital asset services, including OTC trading, custody, and wealth management tools for tokenized assets. The funding positions OSL to accelerate global licensing efforts and infrastructure buildout in line with Hong Kong’s ambition to serve as a regulatory bridge between mainland China and global markets.
Ivan Wong, OSL's Chief Financial Officer, stated that the equity raise marks a major milestone in OSL's journey. He said, "This $300 million equity raise reflects strong conviction in OSL’s digital asset strategy and execution. The funding will accelerate our global buildout — particularly in regulated payment infrastructure and access points."
The funding also positions OSL to expand its regulated payment infrastructure. Interestingly, 30% of the shares were acquired by BGX, an insider that previously invested $90 million for nearly 30% of the company in 2023. BGX, owned by Chinese national Liu Shuai, also controls crypto exchange Bitget and holds majority voting control in Cayman-registered OSL.
In 2024, OSL demonstrated solid financial momentum, generating HKD 375 million ($49 million) in digital asset revenues and turning profitable with HKD 168 million ($22 million) in earnings. This profit included a significant HKD 114 million ($15 million) revaluation profit on digital assets acquired during the year for approximately HKD 70 million ($9 million). OSL held HKD 5 billion ($650 million) in client custody assets at the end of 2024.
The institutional adoption of digital assets is growing across Asia-Pacific markets, with OSL's fundraising round setting a precedent in Asia’s crypto sector and reflecting growing institutional confidence in regulated digital assets. The gain exceeded typical bitcoin returns for the period, underscoring the potential of regulated digital asset platforms like OSL.
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- OSL's equity financing round, amounting to US$300 million, is the largest publicly disclosed equity raise in Asia's institutional digital assets sector, positioning the enterprise for global expansion and cementing its leadership in regulated digital asset services.
- Among the investors in the funding round, BGX, an insider, acquired 30% of the shares, demonstrating growing institutional confidence in regulated digital assets and reinforcing OSL's goal to expand its regulated payment infrastructure.
- With the newly acquired funds allocated across strategic acquisitions, global business growth, and operational purposes, OSL aims to leverage technology to reinforce its competitive advantages and capitalize on insights from the digital assets sector.
