OSL raises $300M, 50% for crypto acquisitions; shares down 10% post-15.3% discount but up 120% YTD

OSL Group has finalized a $300 million equity raise, marking the largest public fundraising in Asia’s digital asset sector to date [1]. The Hong Kong-based firm will allocate 50% of the proceeds to acquire crypto firms in regions including Japan, Europe, Indonesia, and Canada, with 30% dedicated to developing regulated stablecoin infrastructure and cross-border payment systems. The remaining 20% will support operational expansion and real-world asset (RWA) tokenization initiatives [1]. This move aligns with Hong Kong’s “LEAP” strategy, a regulatory framework designed to attract digital asset firms through clear licensing and compliance standards [1].

The timing of the raise coincides with Hong Kong’s new stablecoin regulations, set to take effect on August 1, 2025, positioning OSL to lead in a market poised for rapid growth. A regional fintech analyst noted that “Hong Kong is on the verge of becoming the global stablecoin capital,” emphasizing that OSL’s funding round reflects preparation for this transition [1]. The firm has already expanded its services by integrating Toncoin (TON) into its over-the-counter (OTC) desk and partnering with Interactive Brokers to provide institutional-grade access to digital assets under a compliant structure [1].

However, the raise triggered immediate market turbulence. Shares were issued at a 15.3% discount, causing a 10% drop in OSL’s stock price on the announcement. Despite this short-term dip, the stock remains up 120% year-to-date, with analysts framing the move as a long-term strategic play. “The dilution is real, but so is the vision,” said a Hong Kong-based crypto fund manager, highlighting OSL’s focus on infrastructure and compliance [1].

Critics, however, have raised concerns. Some question whether the aggressive acquisition strategy might outpace OSL’s integration capabilities, while others warn that large crypto raises often prioritize insider exits over sustainable growth. These risks underscore the need for tangible execution to justify the raised capital [1].

The $300 million raise solidifies OSL’s role in shaping Asia’s regulated crypto ecosystem, particularly as Hong Kong’s regulatory framework matures. By targeting stablecoin infrastructure and cross-border payments, OSL aims to bridge traditional finance and decentralized systems, a strategy that could define the region’s digital finance trajectory. Yet, investor expectations remain high, and the firm’s ability to deliver on its ambitious roadmap will determine its long-term success.

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[1] [title1] [https://coinmarketcap.com/community/articles/6883aeab44d5ab3d177b2775/]