OSL Group to Acquire Banxa for CAD 85.2 Million

OSL Group, a prominent player in the digital asset services sector, has announced its intention to acquire Banxa, a cryptocurrency infrastructure provider, for a total consideration of approximately 85.2 million Canadian dollars. The acquisition is set to be executed through a plan of arrangement, which includes the acquisition of all shares of Banxa, including those to be converted from convertible notes before the effective date.

Banxa, registered in British Columbia, Canada, specializes in providing cryptocurrency embedded infrastructure to businesses. The company operates across multiple regions, including Europe, North America, and Australia, and holds several compliance licenses. This strategic acquisition aligns with OSL Group's plan to expand its digital asset services globally, aiming to strengthen its position as a compliant digital asset services provider.

The acquisition of Banxa is expected to accelerate OSL Group's global crypto business expansion. By integrating Banxa's infrastructure and compliance capabilities, OSL Group aims to enhance its service offerings and market reach. This move is part of OSL Group's broader strategy to become a leading provider of digital asset services, leveraging Banxa's established presence and expertise in the cryptocurrency infrastructure space.

The acquisition is subject to regulatory approvals and other customary closing conditions. Upon completion, the transaction is expected to significantly bolster OSL Group's capabilities in providing compliant digital asset services, further solidifying its position in the rapidly evolving digital asset market.