OSL Group, a Hong Kong-listed digital asset firm, announced plans to acquire a 90% stake in an Indonesian crypto exchange for $15 million, marking a major step in its Southeast Asia expansion strategy.
Key Highlights
- OSL to acquire 90% of Evergreen Crest, an operator of a licensed Indonesian crypto exchange.
- The $15M deal will grant access to Indonesia’s spot and derivatives crypto licenses.
- The move aligns with OSL’s goal of expanding digital asset and fintech services across Asia.
- Follows February’s acquisition of Japanese exchange CoinBest (now OSL Japan).
Strategic Entry Into Indonesia’s Booming Crypto Market
In a filing with the Hong Kong Stock Exchange, OSL said the deal offers “immediate and strategic access” to the Indonesian digital asset market—one of the fastest-growing in the region.
“Indonesia possesses key attributes conducive to growth in this sector, including a substantial and youthful demographic, robust economic growth fundamentals, and a rapidly increasing rate of cryptocurrency adoption,” said OSL.
The acquisition will allow OSL to operate under existing crypto spot and derivatives trading licenses via Evergreen Crest’s subsidiaries, giving the firm a legal foothold in the country’s regulated crypto space.
Beyond Trading: Broader Fintech Ambitions
OSL revealed plans to extend services in Indonesia beyond traditional crypto trading. The roadmap includes real-world asset tokenization and payment finance, pending additional licensing approvals.
This move complements OSL’s regional growth strategy, which earlier this year saw the group complete its purchase of CoinBest in Japan, rebranding it as OSL Japan.
Market Reaction and Outlook
While OSL’s stock dipped 3.4% in Hong Kong trading on Tuesday, it has gained 11.6% over the past month, reflecting investor confidence in the company’s broader Asia-Pacific expansion efforts.
Conclusion
OSL’s acquisition of an Indonesian exchange is a bold step into Southeast Asia’s rapidly evolving crypto landscape, positioning the company to tap into rising retail and institutional demand. With the backing of regulatory licenses and a scalable model, OSL is poised to become a leading regional crypto infrastructure provider.