Asia’s OSL Group raises $300M for stablecoin and global expansion
Main Idea
OSL Group has raised $300 million to expand its global operations, including stablecoin services and infrastructure development, following its licensing by the Hong Kong Monetary Authority.
Key Points
1. OSL Group secured $300 million in equity financing for international expansion and infrastructure development.
2. The company is the first exchange licensed by the Hong Kong Monetary Authority (HKMA) and plans to build payment and stablecoin services.
3. Hong Kong will allow licensed companies to issue stablecoins under its forthcoming Stablecoin Ordinance starting August 1.
4. OSL is expanding its operations in Japan, Australia, Europe, and Southeast Asia.
5. At least 50 companies are applying for stablecoin licenses under HKMA's new regulatory framework, but many proposals lack clarity.
Description
OSL said its latest milestone reflects “strong recognition” of its digital asset business model.
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