Shares of Hong Kong-based digital asset trading platform OSL Group rose by 10 percent on Monday, reaching their highest level in nearly four years. The jump followed the company’s announcement of its acquisition of Banxa, a Canada-based crypto infrastructure provider.
The deal, revealed late Friday, is the latest in a series of international acquisitions by OSL over the past year. The company’s chief financial officer, Ivan Wong, said the move supports OSL’s ongoing global expansion and aligns with its goal to meet rising global interest in cryptocurrencies.
“We will continue global expansion through both acquisitions and license applications,” Wong said.
OSL aims to play a bigger role in cross-border payments. As part of this strategy, it is preparing to issue stablecoins—cryptocurrencies backed by assets like fiat currencies. Wong confirmed the company’s plans to apply for the necessary licenses in multiple regions.
Hong Kong’s new stablecoin regulatory framework is set to take effect on August 1. According to Hong Kong financial secretary Paul Chan, stablecoins could speed up cross-border transactions and support the region’s economy, which is facing geopolitical pressures.
“Stablecoins are getting more and more popular among institutions globally,” Wong added.
Beyond Hong Kong, OSL also plans to launch stablecoins in other markets. Since fully transitioning into a digital asset-focused company last year, OSL has acquired licenses in Australia and completed deals in Japan and Europe. It is also preparing to finalize an acquisition in Indonesia next month and intends to apply for crypto-related licenses in three more regions this year.
Wong also stated that the company will increase its investment in the Real-World Assets (RWA) segment, which involves converting traditional financial assets into digital tokens.
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