OSL Group Acquires 81.38% Stake in Japanese Crypto Exchange CoinBest K.K.

This acquisition represents a significant move for OSL, marking its strategic entry into Japan's rapidly expanding crypto market, which now has over 5 million

Hong Kong-based financial services group OSL announced on Monday that its Japanese unit has agreed to acquire a majority stake in local crypto exchange CoinBest K.K. This move marks OSL's entry into Japan's rapidly expanding crypto market.CoinBest is one of 29 crypto trading platforms in Japan that are licensed to serve both retail and institutional clients. The exchange was established in 2018 and has since grown to become one of the leading crypto exchanges in the country.CoinBest's platform offers a wide range of cryptocurrencies for trading, including Bitcoin ( BTC), Ethereum ( ETH), Litecoin ( LTC), and XRP. The exchange also provides OTC trading services for large-volume trades. This acquisition will enable OSL to create operational synergies that improve global trading liquidity across its member platforms and the broader network, which includes OSL Digital Securities.OSL Digital Securities is one of only three fully licensed crypto exchanges that are regulated by the Hong Kong Securities and Futures Commission (SFC). Together, these exchanges form a network that spans multiple jurisdictions and provides a diverse range of financial services.This acquisition is a critical step in OSL's regional expansion strategy, which aims to leverage the strengths of each market to enhance its overall service offerings and competitive edge.Highlighting the significance of this acquisition, Ivan Wong, OSL Group's Chief Investment Officer, stated:

“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.”

CoinBest is a valuable addition to OSL's growing network of exchanges, and this acquisition is expected to contribute significantly to OSL's long-term growth plans. Together, they will continue to drive innovation and expand the possibilities of digital asset trading in Asia.

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