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

OSL Group, a leading player in the digital asset market, has announced a significant strategic acquisition aimed at expanding its presence in Indonesia. On June 3rd, the company revealed that its subsidiary, OSL Midaspay Limited, had entered into a share purchase agreement with Lau Shu Ming on May 30th. This agreement involves the acquisition of 90% of Evergreen Crest Holdings Ltd for a total consideration of $15 million, approximately HK$117 million. The transaction will be settled through the issuance of consideration shares, making Evergreen Crest Holdings an indirect subsidiary of OSL Group.

Evergreen Crest Holdings currently operates a robust digital asset exchange and holds essential licenses as both a futures brokerage and cryptocurrency exchange in Indonesia. This acquisition is a strategic move that not only enhances OSL Group’s operational capabilities but also provides a pivotal entry point into the rapidly growing Indonesian digital asset marketplace. The Indonesian market is experiencing significant growth, and as regulatory frameworks evolve, OSL Group is well-positioned to leverage this acquisition to offer comprehensive services in a rapidly changing financial landscape.

The acquisition is expected to provide OSL with a compliant channel to quickly enter the Indonesian crypto market and expand emerging businesses. This move aligns with OSL Group’s broader strategy to diversify its offerings and tap into new growth opportunities. By acquiring Evergreen Crest Holdings, OSL Group gains access to a well-established digital asset exchange and the necessary licenses to operate in Indonesia, which is crucial for navigating the regulatory environment and ensuring compliance.

This strategic acquisition underscores OSL Group’s commitment to expanding its footprint in the digital asset market. By leveraging Evergreen Crest Holdings’ existing infrastructure and licenses, OSL Group can offer a range of services, including real-world assets and payment finance, to its clients in Indonesia. This move is expected to enhance OSL Group’s competitive position in the region and drive long-term growth.