OSL Group Acquires 90% of Evergreen Crest for $15 Million to Expand in Indonesia

OSL Group, a prominent player in the digital asset industry, has announced its strategic move to acquire 90% of the issued shares of Evergreen Crest Holdings Ltd for $15 million, approximately HK$117 million. This acquisition is set to significantly expand OSL Group's footprint into the Indonesian digital asset market. The transaction, which was settled through the issuance of consideration shares, will see Evergreen Crest Holdings Ltd become an indirect subsidiary of OSL Group upon completion.

Evergreen Crest Holdings Ltd currently operates a digital asset exchange through its subsidiary and holds licenses as an Indonesian futures brokerage and a cryptocurrency exchange. This acquisition provides OSL Group with a strategic pathway to enter the Indonesian digital asset market, leveraging Evergreen Crest's existing infrastructure and regulatory compliance. The move is expected to enhance OSL Group's capabilities in the region, allowing it to offer a broader range of digital asset services to Indonesian clients.

This acquisition is a significant step for OSL Group as it seeks to diversify its operations and tap into the growing demand for digital assets in Indonesia. The Indonesian market has shown considerable potential for growth in the digital asset sector, with increasing adoption and regulatory support. By acquiring Evergreen Crest, OSL Group aims to capitalize on this opportunity and establish a strong presence in the region.

The transaction underscores OSL Group's commitment to expanding its global reach and strengthening its position in the digital asset industry. The acquisition of Evergreen Crest is expected to provide OSL Group with a competitive edge in the Indonesian market, enabling it to offer innovative digital asset solutions and services to its clients. This strategic move is likely to drive growth and enhance OSL Group's market share in the region, positioning it as a leading player in the digital asset space.