Summary
- Hong Kong-listed OSL Group said it will raise $200 million in new funding to expand its stablecoin business.
- OSL Group said it will use the proceeds from the share issuance to strengthen financial soundness, capture global growth opportunities, and pursue strategic expansion in stablecoin trading and payments.
- The OSL Group CFO said its strategic position in the stablecoin market is being recognized and that it expects to attract more strategic and long-term investors.
Hong Kong-listed OSL Group has raised $200 million in new funding to expand its stablecoin business.
OSL Group said on the 29th (local time) that it will raise $200 million through a share issuance. The company explained that “this fundraising is intended to strengthen financial soundness, capture global growth opportunities, and accelerate strategic expansion in stablecoin trading and payments.”
OSL Group is the first crypto exchange to receive approval from Hong Kong authorities. It also supports crypto custody and tokenized asset management services.
It entered the stablecoin market last year with the launch of the U.S. dollar-backed stablecoin USDGO. OSL Group also raised $300 million in investment in July last year.
Evan Wong, CFO of OSL Group, said that “the market has recognized OSL Group’s strategic position in the stablecoin market,” adding that the company “will be able to attract more like-minded strategic and long-term investors.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
