OSL Group Acquires Banxa for C$85.2 Million Expanding Global Crypto Infrastructure

OSL Group Ltd., a digital asset platform operator, has announced its acquisition of Banxa Holdings Inc. for approximately C$85.2 million. This strategic move is facilitated through OSL BNXA Acquisition Inc., a subsidiary of OSL Group. Banxa, renowned for its crypto infrastructure services across Europe, North America, and Australia, views this acquisition as a pivotal step in scaling its platform globally.

The acquisition underscores OSL Group's ambition to expand its footprint in the digital asset industry. The transaction, valued at an 80% premium above Banxa's 30-day volume-weighted average price (VWAP), includes C$81.7 million allocated to common equity. This deal is expected to bolster OSL Group's enterprise-level crypto payments infrastructure, aligning with its global expansion strategy.

Zafer Qureshi, Executive Director of Banxa, expressed enthusiasm about the alignment of visions between the two companies. "We are delighted to be combining Banxa and OSL’s aligned vision of delivering the benefits of global crypto payments infrastructure and crypto exchange services to enterprises and users around the world. We are excited to be joining the OSL team to accelerate the growth of our platform at a global scale." The transaction has been unanimously approved by Banxa's board, further strengthening the company's global growth opportunities.

This acquisition is part of OSL Group's broader expansion strategy, which includes previous acquisitions such as Coinbest in Japan. The move highlights OSL Group's pattern of targeted global growth through regulated exchanges, aiming to enhance cross-border crypto infrastructure and support regulated payment on-ramps. This aligns with the industry's strategic moves towards compliance and penetration into key markets.