OSL Group Limited, a Hong Kong-listed company focused on digital assets, has signed a deal to acquire an 81.38% stake in CoinBest.

CoinBest is a licensed crypto asset exchange regulated by the Financial Services Agency (FSA) in Japan.

The acquisition will be conducted through OSL Investment (Japan) Limited, a wholly-owned subsidiary of OSL Group.

This acquisition is part of OSL Group’s strategy to enter the Japanese market, aligning with its plans for international growth.

The move aims to drive product and service innovation, share resources, and enhance global trading liquidity across OSL’s member platforms, including OSL Digital Securities in Hong Kong.

Ivan Wong, Chief Investment Officer of OSL Group, said,

“Acquiring CoinBest is a pivotal milestone for OSL. This move signifies our entry into the Japanese market, heralding a new era of global growth. 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.”

Raku Tosei, CEO of CoinBest, said,

“We are thrilled to welcome OSL as our progressive partner to strengthen our service capabilities in the regulated digital asset market. This collaboration is a testament to our commitment to innovation and development in the digital asset space.

It underscores our strategy to continue to expand and offer top-tier digital asset products and services to our investors.”

Featured image credit: Edited from Freepik