Digital asset platform OSL Group has announced a landmark $300 million equity financing round, the largest publicly disclosed in Asia’s crypto sector. The funds will be allocated toward strategic acquisitions, global business initiatives—including payments and stablecoin infrastructure—and bolstering working capital. OSL framed the raise as a validation of its long-term growth strategy and digital asset business model, reinforcing its ambition to expand internationally. This milestone underscores the growing investor confidence in Asia’s crypto ecosystem and OSL’s positioning as a key player.
read moreOSL
0 in Finance and 0 in Crypto last week
OSL Raises $300M for Stablecoin Push in Hong Kong
OSL Group, a licensed digital asset exchange in Hong Kong, announced a HK$2.36 billion ($300 million) fundraising round to fuel acquisitions, global expansion, and stablecoin initiatives. About 30% of the proceeds will target payment and stablecoin infrastructure, coinciding with Hong Kong’s new stablecoin licensing framework set to take effect soon. Analysts see this as a strategic move to leverage regulatory clarity and growing institutional interest in compliant stablecoins. OSL’s shares have surged nearly 88% since January, reflecting market optimism. The issuance is expected to close by mid-August, pending approval.
read moreXRP, Solana Dip as Bitcoin Holds Steady Amid ETF Inflows
Cryptocurrency markets saw mixed performance as XRP and Solana fell by over 3% and 2%, respectively, despite Bitcoin’s steady position near $107,000. ETF inflows and institutional interest cushioned Bitcoin’s performance, while altcoins faced profit-taking after recent rallies. Broader market optimism persisted due to slowing inflation, potential Fed rate cuts, and regulatory clarity in Asia, particularly Hong Kong’s updated crypto guidelines. Analysts suggest Bitcoin could soon test its all-time high of $112,000, while XRP and Solana may stabilize if key support levels hold. The market remains supported by strong fundamentals, with no signs of a broader sell-off.
read moreHong Kong Flags 33 More Crypto Scam Platforms Impersonating HashKey
Hong Kong’s Securities and Futures Commission (SFC) has flagged 33 additional fraudulent websites impersonating HashKey, bringing the total to 45. HashKey, which obtained a crypto license in November 2022, has distanced itself from these scams, while the SFC continues to monitor suspicious platforms, having identified at least 91 since November 2021. As Hong Kong aims to become a digital assets hub, it has recently expanded its list of licensed crypto platforms, now totaling nine.
read moreHong Kong to Expand Crypto Exchange Licenses by End of 2024
Hong Kong’s Securities Futures Commission (SFC) plans to issue more licenses to crypto exchanges by the end of 2024, focusing on compliance among the 11 Virtual Asset Trading Platforms (VATPs) currently under review. The SFC has completed initial inspections and aims to enhance crypto regulations, including oversight of OTC trading services. Despite the ambition to be a global crypto hub, critics highlight the slow regulatory pace, especially following a significant fraud case involving the now-defunct JPEX exchange.
read moreHong Kong Plans to License More Crypto Exchanges by Year End
Hong Kong’s Securities Futures Commission plans to issue more licenses to crypto exchanges by year-end, with 11 Virtual Asset Trading Platforms currently under review. Following a $165 million fraud scandal involving the JPEX exchange, the SFC aims to enhance regulations and compliance for digital asset firms. The regulatory framework for crypto assets is expected to be finalized by the end of next year.
read moreInstitutional Activity Fuels Crypto Growth in South Korea and Hong Kong
Eastern Asia has become the sixth largest crypto economy globally, driven by institutional activity in South Korea and Hong Kong, accounting for 8.9% of global value received, totaling over $400 billion. South Korea leads with nearly $130 billion in transactions, fueled by mistrust in traditional finance and blockchain initiatives from major companies like Samsung. Meanwhile, Hong Kong’s regulatory clarity has attracted institutional interest, particularly following the approval of spot crypto ETFs, marking it as a growing hub for digital asset investment.
read moreHong Kong Crypto Exchanges Face Licensing Challenges Amid Regulatory Scrutiny
Hong Kong’s ambition to become a leading crypto hub faces significant challenges as over a dozen exchanges struggle to obtain licenses from the Securities and Futures Commission (SFC). Following the JPEX scandal, which resulted in substantial investor losses, the SFC is intensifying scrutiny on exchanges, with many withdrawing their applications due to stringent compliance requirements. Only OSL and HashKey currently hold full licenses, raising concerns about Hong Kong’s competitiveness against jurisdictions like Singapore.
read moreHong Kong’s Crypto ETF Market Hopes Pinned on Ethereum Staking
Hong Kong’s debut of spot Bitcoin and Ether exchange-traded funds fell short of expectations, with only 40% of estimated assets under management. Regulatory approval for Ethereum staking ETFs is being negotiated, with hopes that it could revitalize the market. Challenges such as lack of access to mainland Chinese money and intermediary readiness hinder the growth of crypto ETFs in Hong Kong.
read moreBitcoin Faces Regulatory Scrutiny and Market Uncertainties Amid Price Volatility
Bitcoin faces resistance at $64,748, with support at $60,928. Regulatory scrutiny and a hawkish Fed stance have led to a dip in price, while whale activity reflects confidence in the market. The unlocking of tokens and high-interest rate expectations may continue to pressure Bitcoin prices.
read more