What recent acquisition did OSL Group announce?

OSL Group announced the acquisition of Canadian-based Banxa, which is part of its strategy for global expansion.

How much did OSL Group's shares increase after the announcement?

OSL Group's shares jumped 10%, reaching their highest point in almost four years.

What is the significance of stablecoins for OSL Group?

Stablecoins are crucial for OSL's ambition to enhance cross-border payments and are expected to benefit the regional economy amid geopolitical tensions.

What regions is OSL Group targeting for stablecoin issuance?

In addition to Hong Kong, OSL plans to issue stablecoins in other regions, including Australia, Japan, and Europe.

What are OSL Group's future plans regarding licenses?

OSL Group aims to apply for crypto-related licenses in three regions this year as part of its expansion strategy.

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Home > Finance > Hong Kong-based crypto platform OSL shares jump on Canadian acquisition

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Hong Kong-based crypto platform OSL shares jump on Canadian acquisition

Published by Global Banking & Finance Review®

Posted on June 30, 2025

2 min read

Last updated: January 23, 2026

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OSL Group's Shares Surge Following Canadian Acquisition Announcement

SHANGHAI/HONG KONG (Reuters) -Hong Kong-listed shares of OSL Group jumped 10% to their highest in almost four years on Monday after the digital asset trading platform said it had acquired Canadian-based crypto infrastructure provider Banxa.

The Banxa deal announced late on Friday is the latest in a string of overseas asset purchases over the past year. OSL's finance chief said it would accelerate its global expansion plans to tap into growing interest in cryptocurrencies.

"We will continue global expansion through both acquisitions and license applications," Ivan Wong told Reuters on Monday.

Having a global footprint is crucial to OSL's ambition to be a bigger player in cross-border payments, and Wong said the company will seek to issue stablecoins - cryptocurrencies pegged to assets such as fiat currencies. Hong Kong is setting up a licensing framework for stablecoin issuers.

Stablecoins will potentially expedite cross-border payments and benefit a regional economy facing challenges from geopolitical tensions, Hong Kong financial secretary Paul Chan said in a blog post over the weekend.

"Stablecoins are getting more and more popular among institutions globally," said Wong, adding OSL was preparing for licence applications.

Hong Kong's stablecoin bill comes into effect on August 1. China's Ant Group and JD.com have said they plan to issue stablecoins in Hong Kong via offshore units.

In addition to Hong Kong, OSL also aims to issue stablecoins in other regions, Wong said.

Since transforming last year into a company fully dedicated to digital assets, OSL has secured an exchange licence in Australia and completed acquisitions in Japan and Europe.

The company will close an acquisition in Indonesia next month, and plans to apply for crypto-related licenses in three regions this year, he said.

OSL will also step up investment in the so-called Real-World-Assets business, converting traditional assets into digital tokens.

(Reporting by Shanghai Newsroom; Editing by Emelia Sithole-Matarise)

Hong Kong-based crypto platform OSL shares jump on Canadian acquisition

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OSL Group's Shares Surge Following Canadian Acquisition Announcement

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