OSL Group plans to spend $15 million to acquire Indonesian digital asset platform to accelerate its entry into the Southeast Asian market
B.news
OSL Group (HKEx stock code: 00863) announced on May 30, 2025 that its wholly-owned subsidiary OSL Midaspay Limited signed an agreement with Lau Shu Ming to acquire 90% of Evergreen Crest Holdings Ltd for US$15 million (approximately HK$117 million). The transaction will be paid through the issuance of new shares, and the consideration shares account for approximately 1.48% of the Group's existing issued share capital.
Upon completion of the transaction, the target company will become an indirect subsidiary of OSL, and its financial data will be consolidated into the Group's consolidated financial statements. Evergreen Crest holds futures brokerage and cryptocurrency trading licenses in Indonesia through its subsidiaries and is building a local digital asset exchange platform.
The acquisition is seen as a key step for the Group to strategically enter the Indonesian crypto market. Indonesia is considered one of the most promising crypto markets in Asia, with a young population, strong economic growth and rapidly increasing acceptance of crypto assets. Industry data shows that as of November 2024, Indonesia has 22.1 million crypto users with an annual transaction volume of more than US$34 billion.
The acquisition will help the Group quickly obtain key regulatory licenses in Indonesia, avoid lengthy approval processes, and accelerate market implementation. The Group also plans to leverage the local brand "Koin Sayang" to enhance brand awareness in Indonesia and further expand new businesses such as real-world assets (RWA) and payment finance (PayFi), subject to obtaining relevant licenses.
The transaction was paid in the form of share issuance, which will help the Group retain cash resources and leave room for subsequent operations and investments. By integrating technology, compliance resources and local networks, OSL expects to achieve synergies and accelerate its development in the digital asset field in Southeast Asia.
About OSL Group
OSL Group (HKEX stock code: 00863) is Asia's leading digital asset platform operator, focusing on providing institutional clients with comprehensive services covering trading, custody, brokerage and technology solutions. Its brand "OSL" is one of the first operators to obtain the Hong Kong Securities and Futures Commission's virtual asset trading platform license, and is known for its compliance, security and professionalism. In recent years, the Group has actively expanded its presence in the Asian market, especially in emerging regions such as Indonesia and Singapore, where it has deployed digital assets and Web3 ecosystems. It is committed to promoting the integration of traditional finance and crypto finance and accelerating the construction of a world-leading digital asset financial services network.
