OSL Group Acquires Majority Stake in Japan's CoinBest Exchange

In a significant development in the world of digital assets, OSL Group Limited, a publicly listed company based in Hong Kong, has announced its acquisition of an 81.38% stake in CoinBest K.K., a regulated crypto asset exchange in Japan. This acquisition marks a strategic entry for OSL Group into the Japanese market, which is known for its advanced regulatory framework and growing adoption of digital assets.

Japan has emerged as a key player in the digital asset landscape, boasting over 5.16 million active digital asset accounts in 2023, a figure that has tripled since 2018. The country is recognized for its mature regulatory environment, making it an attractive market for companies looking to expand their digital asset services. OSL Group's acquisition of CoinBest is not just a business move; it represents a significant milestone in the company's global expansion strategy.

Through this acquisition, OSL Group aims to create synergies that will enhance product and service innovation. By sharing resources and best practices, the company hopes to improve global trading liquidity across its platforms, including OSL Digital Securities, which is a leading regulated digital asset platform in Hong Kong. This collaboration is expected to foster a more robust digital finance ecosystem.

Ivan Wong, the Chief Investment Officer of OSL Group, expressed enthusiasm about the acquisition, stating, "Acquiring CoinBest is a pivotal milestone for OSL. This move signifies our entry into the Japanese market, heralding a new era of global growth." Wong emphasized the company's commitment to leveraging its expertise in over-the-counter (OTC) trading, custody, and trading services to enhance its offerings in Japan.

On the other hand, Raku Tosei, the CEO of CoinBest, welcomed OSL as a progressive partner, highlighting the collaboration's potential to strengthen service capabilities in the regulated digital asset market. Tosei noted that this partnership underscores CoinBest's commitment to innovation and development in the digital asset space.

The acquisition will be executed through OSL Investment (Japan) Limited, a wholly-owned subsidiary of OSL Group Limited. This strategic move not only positions OSL Group to tap into the burgeoning Japanese market but also reflects the growing trend of consolidation in the digital asset industry.

As the digital asset landscape continues to evolve, the partnership between OSL Group and CoinBest could serve as a model for other companies looking to navigate the complexities of international markets. With Japan's regulatory framework providing a solid foundation for growth, this acquisition may pave the way for further innovations and advancements in the digital finance sector.