Hong Kong-listed OSL Group will acquire an 81.38% stake in the compliant Japanese cryptocurrency exchange CoinBest to promote product and service innovation between its trading platforms and enhance global trading volume.

Odaily Planet Daily reported that Hong Kong-listed company OSL Group Limited (863.HK) (together with its subsidiaries referred to as "OSL Group") announced that its wholly-owned subsidiary has signed a share purchase agreement to acquire an 81.38% stake in CoinBest K.K. (hereinafter referred to as "CoinBest"), a crypto asset trading service provider licensed by the Financial Services Agency (FSA) of Japan.

Japan has become one of the more mature and rapidly developing markets in the Asia-Pacific region, with a rapidly growing prevalence and investment volume in the digital asset market. By acquiring CoinBest, OSL Group aims to foster product and service innovation among its trading platforms (including the Hong Kong licensed digital asset trading platform OSL Digital Securities), increase global trading liquidity, achieve resource sharing and best business practices, thereby creating business synergies.

OSL Group Acquires Japanese Compliant Cryptocurrency Exchange CoinBest