The OSL Group, one of the main digital asset platforms in Asia, has raised $ 300 million thanks to a share financing round, marking the largest capital increase publicly disclosed in the region’s crypto space to date.
The main dishes to remember:
- The OSL Group has raised $ 300 million in the largest equity of asia’s cryptography capital to date.
- The funds will support Stablecoin infrastructure, global licenses and the extension of the payment network.
- The sale of shares was estimated at a discount of 15.3%, triggering a decrease of 10% to the open Friday.
The announcement comes just before the new legislation of Hong Kong, which comes into force on August 1.
The company, listed under Ticker 0863.HK, said that the product of the agreement will finance global expansion efforts, including the development of regulated stable infrastructure, licenses in new jurisdictions and the launch of a conforming digital payment network.
The fundraising agreement estimated the shares at $ 14.90 HK, reflecting a discount of 15.3% compared to the end of Thursday.
OSL’s shares opened more than 10% less on Friday, reacting to dilution and reduced placement price. However, the action increased by 120% the year to the start.
“Funding will accelerate our global construction – in particular in the stable infrastructure at the regulated reserve and compliant payment rails,” said Ivan Wong, financial director of the OSL group.
The increase comes in the midst of an increase in investors’ interest in Crypto -related actions, despite warnings from the Hong Kong monetary authority this week on “excessive exuberance” around stablecoins.
OSL, who swivel in digital assets in 2023, aggressively expanded. He now has an exchange license in Australia and has completed acquisitions in Japan and Europe.
The company also invests in the tokenization of real assets (RWA), converting traditional instruments such as obligations and actions in digital tokens.
The imminent implementation of the Stablecoin bill has positioned Hong Kong as a key director of the global race to regulate and attract the institutional activity of Stablecoin.
Last year, OSL Digital Securities introduced Toncoin (TON) into its over -the -counter commercial services (OTC) to extend its offers to professional investors.
In 2023, interactive brokers, an automated global electronic broker, expanded cryptocurrency trade for retail customers in Hong Kong in collaboration with OSL.
Hong Kong announces a new digital asset policy
Hong Kong unveiled its second major policy statement on digital assets, placing the regulation of stablescoin and the tokenization of active world (RWA) at the heart of its strategy to become a global fintech center.
The new “Leap” framework focuses on legal clarity, the growth of ecosystems, the adoption of the real world and the development of talents, with a regime of granting licenses at launch on August 1.
The Government also plans to regulate token government obligations and FNBs, paving the way to negotiating the secondary market for these products on approved digital asset platforms.
It aims to extend tokenization efforts in sectors such as metals and renewable energies, highlighting use cases such as gold and solar panels.
As indicated, professionals working in the crypto and hedge funds play a key role in the support of the Hong Kong residential rental market, which continues to fight due to small traditional sources of demand.
The OSL Group of Post Hong Kong provides an increase in shares of $ 300 million in an increase in demand for cryptocurrencies appeared first on Cryptonews.
