OSL Group Announces Acquisition of Regulated Crypto Asset Exchange CoinBest in Japan
(Hong Kong, 4 November 2024) - OSL Group Limited (863.HK), a Hong Kong publicly listed company fully dedicated to digital assets (together with its subsidiaries, “OSL Group”), today announced the signing of a share purchase agreement by its wholly-owned subsidiary to acquire an 81.38% stake in CoinBest K.K. (“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.
Japan - a key market with 5.16 million active digital asset accounts in 2023*, tripling from 2018
Among the major markets that recognise 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.
OSL x CoinBest - a shared vision for a regulated digital finance synergy
Ivan Wong, Chief Investment Officer of OSL Group, said: “Acquiring CoinBest is a pivotal milestone for OSL. This move signifies our entry into the Japanese market, heralding a new era of global growth. Leveraging the robust foundation we’ve built in Hong Kong, we aim to bring our expertise in OTC, custody and trading services to new markets. Additionally, we look forward to gaining valuable insights and cutting-edge technologies from those markets to enhance our offerings and strengthen our competitive edge across the board.”
Raku Tosei, CEO of CoinBest, stated: "We are thrilled to welcome OSL as our progressive partner to strengthen our service capabilities in the regulated digital asset market. This collaboration is a testament to our commitment to innovation and development in the digital asset space. It underscores our strategy to continue to expand and offer top-tier digital asset products and services to our investors."
The acquisition will be conducted through OSL Investment (Japan) Limited, a wholly-owned subsidiary of the OSL Group Limited.
*Source from Statista - https://www.statista.com/statistics/1301131/japan-number-active-crypto-asset-accounts/
About CoinBest
CoinBest K.K. is a crypto asset exchange service provider, licensed by the Financial Services Agency (FSA) in Japan and established in 2017. CoinBest offers a comprehensive range of services tailored to meet the needs of both individual and institutional clients, including cryptocurrency trading, blockchain development, and OTC consultation services, among others.
For more information, visit: coinbest.com
About OSL
Backed by Asia’s leading public fintech and digital asset company, OSL Group (863.HK), formerly BC Technology Group, OSL is the world’s first SFC-licensed and insured digital asset platform. Founded in 2018, OSL has an established history in the sector and is recognised by many as the leader in providing comprehensive regulated and licensed digital asset solutions.
OSL offers Markets services (brokerage, exchange, and custody) and SaaS technology solutions, which deliver institutional clients in addition to professional and retail investors access to global liquidity through its best-in-class digital asset platform. OSL’s secured and insured hot and cold wallet infrastructure also ensures the safekeeping of digital assets with timely transaction settlements.
As the digital asset industry continues to evolve, so does OSL. OSL’s simple and tailored approach compliantly navigates international clients through the evolving digital assets environment.
For more information, visit: group.osl.com
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