OSL, Hong Kong’s first licensed crypto exchange, is aiming to raise $300 million, with plans to allocate a significant portion toward global expansion and stablecoin initiatives.
In an announcement on July 25, the digital asset firm revealed its intention to channel some of the funds into expanding operations internationally. According to a document from Macquarie Capital Limited, OSL has entered into a placing and subscription agreement expected to raise HK$2.36 billion (approximately $300 million).
Half of the funds—around $150 million—will go toward strategic acquisitions, suggesting that OSL is looking to acquire companies beyond its current financial group. Another 20% will support general corporate needs, while 30%—roughly HK$700.83 million—will be dedicated to expanding globally and launching a new business strategy.
This new strategy will focus on payments and the development of stablecoin services. The move comes just days ahead of Hong Kong’s first stablecoin regulatory framework, which takes effect on August 1, as the region positions itself as a global digital asset hub by licensing firms issuing HKD-pegged stablecoins.
Is Hong Kong’s OSL gearing up to enter the stablecoin race?
While it remains unclear whether OSL plans to formally apply for a stablecoin issuer license, the firm appears to be positioning itself alongside other regional players like JD.com and Animoca Group’s joint venture with Standard Chartered and Telecom, signaling growing interest in stablecoin-related services.
In an interview with Bloomberg, Ivan Wong, Chief Financial Officer of the publicly listed OSL Group, suggested that the company’s global expansion plans will likely involve stablecoin-based payment infrastructure.
“The funding will accelerate our global buildout — particularly in regulated stablecoin infrastructure and compliant payment rails,” Wong stated, highlighting the impact of Hong Kong’s clear regulatory environment in shaping the firm’s strategic direction beyond local borders.
Wong also noted a surge of interest from Asian and international financial institutions in the digital asset space. Among those showing strong participation are sovereign wealth funds and major hedge funds, underlining the growing institutional appetite for crypto innovation.
