- OSL has acquired an 81.38% stake in Japan’s CoinBest exchange.
- The partnership anticipates to boost regulated digital asset services over Asia.
OSL Group Limited, a listed Hong Kong firm focusing only on digital assets, has announced a substantial strategic acquisition.Its wholly-owned subsidiary has signed a share purchase agreement to acquire an 81.38% stake in CoinBest K.K. CoinBest K.K. is a licensed cryptocurrency exchange service provider based in Japan. This move is an essential move in OSL Group’s globalization strategy, allowing it to enter Japan’s fast-expanding digital asset sector.
In 2023, Japan emerged as one of the most advanced markets for digital assets, with 5.16 million active digital asset accounts. This figure has tripled since 2018, highlighting the significant growth in the sector. This market maturity, combined with growing regulatory recognition, makes Japan an important target for OSL Group expansion. OSL’s acquisition of CoinBest aims to drive product and service innovation. This move will enhance global trading liquidity across OSL’s platforms. Among these is OSL Digital Securities, a leading regulated digital asset platform in Hong Kong.
Strategic Expansion into Japan’s Crypto Landscape
By entering Japan, OSL intends to capitalize on CoinBest’s existing market position to promote innovation and integrate resources for increased liquidity and operational synergy across its platforms. Furthermore, this approach is consistent with Japan’s growing regulatory interest in major cryptocurrencies such as Bitcoin and Ethereum, as well as prospective legislative changes favoring exchange-traded funds and modified tax rules for digital assets.
Ivan Wong, Chief Investment Officer of OSL Group, emphasized the significance of the transaction. He added that CoinBest marks a watershed moment for OSL. This move marks our breakthrough into the Japanese market and begins a new era of global growth. Wong emphasized that utilizing OSL’s existing infrastructure in Hong Kong will benefit the company significantly. This partnership will allow them to offer expertise in over-the-counter (OTC) trading, custody, and digital asset services. As a result, they will be able to expand into new markets.
Raku Tosei, CEO of CoinBest, expressed his delight at the collaboration. He stated that the company is excited to welcome OSL as a progressive partner to enhance their service capabilities in the regulated digital asset market. Tosei stated that this relationship demonstrates their dedication to innovation and expanding their products in the digital asset arena.
The deal will be carried out by OSL Investment (Japan) Limited, a wholly-owned subsidiary of OSL Group Limited. With this strategic move, OSL Group aims to strengthen its presence in Japan, a market poised for further growth and development in digital financial services. The acquisition positions OSL Group as a key player in the evolving digital asset landscape. As the region’s market rapidly expands, OSL is well-equipped to capitalize on emerging opportunities.
