Isabella García
Hong Kong-based digital asset firm OSL Group has unveiled its latest international expansion effort with a $15 million agreement to acquire a 90% stake in Evergreen Crest, a company operating a regulated cryptocurrency exchange in Indonesia.
The announcement, made on Monday through a filing with the Hong Kong Stock Exchange, confirms that the deal was secured via OSL’s wholly owned subsidiary. Once finalized, the acquisition will grant OSL immediate entry into Indonesia’s fast-growing crypto market, which the company sees as a strategic opportunity.
Indonesia’s Crypto Market Seen as Key Growth Opportunity
In its statement, OSL emphasized Indonesia’s favorable market conditions, citing its young population, strong economic fundamentals, and rising adoption of digital assets as key drivers of future growth.
“Indonesia represents a dynamic and high-potential market for digital assets,” OSL noted, underlining the region’s appeal as a cornerstone for Southeast Asian crypto expansion.
Through Evergreen Crest, OSL will gain access to existing regulatory licenses for both spot and derivatives crypto trading, significantly reducing the time and hurdles typically involved in entering new jurisdictions.
Broader Plans Include Real-World Assets and Payment Finance
Following the acquisition, OSL plans to introduce expanded services in the Indonesian market, including offerings related to real-world assets (RWAs) and crypto-based payment finance, pending regulatory approvals.
This deal is just the latest step in OSL’s broader global growth strategy. In February, the company finalized its acquisition of CoinBest, a Japanese crypto exchange, which has since been rebranded as OSL Japan.
Market Reaction and Stock Performance
Despite the strategic announcement, OSL shares slipped by 3.4% in Tuesday trading in Hong Kong, according to Yahoo Finance. However, the company’s stock is still up 11.6% over the past month, reflecting investor optimism about its regional expansion efforts.
