The Digital Asset Platform OSL Group has gained $ 300 million in equity financing, which marked the largest public revealing the increase in equity in the Asian crypto sector to date.
On Friday, the company announced This will put funds in three growth areas: acquisitions, global business initiatives such as stablecoin payments and infrastructure and working capital. The increase is part of OSL’s broader approach to expand international existence.
OSL described The increase as a “milestone” for the company that indicates recognition of the long -term trajectory market and crypto business model.
“The US $ 300 million equity raises the mark of a major milestone on our journey and reflects strong belief in the Digital Asset Strategy and implementation of the OSL,” said Ivan Wong, the chief official OSL Group.
OSL plans Stablecoin services
OSL runs licensed platforms that offer over-the-counter (OTC) trading, digital asset custody and wealth management tool aimed at tokenized assets.
The company is the first exchange to obtain a license from the Hong Kong Monetary Authority (HKMA), the central bank of the administrative region. The company said one of the areas focused on the newly raised capital is the development of Stablecoin’s payment and service.
From August 1, Hong Kong will begin licensed companies to issue stablecoins under the upcoming Stablecoin ordinance. The region will implement rules for crypto regulation, creating a framework to protect investors and manage risks.
OSL also expands a footprint worldwide. According to the company, it expands infrastructure throughout Japan, Australia, Europe and Southeast Asia.
Related: Bitcoin Treasury Fever is growing in Japan because AI company targets 3,000 BTC
Hong Kong Curbs Stablecoin “Euphoria”
As Stablecoins continue to gain traction worldwide, Hong Kong companies join the race, applying for licenses under the new HKMA regulation framework.
On Thursday, Bloomberg reported that at least 50 companies were applying for Stablecoin licenses.
However, HKMA’s chief executive Eddie Yue said many projects applying for licenses would be undeniable to the requirements of the Central Bank. Yue said some companies have submitted vague measures without realistic implementation plans.
Yue said “it is necessary to live more in euphoria,” Players of the warning industry Breaking Stablecoin’s promotional rules could have come to them with heavy fines and up to six -month imprisonment.
Magazine: Hong Kong hoses down Stablecoin Frenzy, Pokémon in Solana: Asia Express
