OSL Group Limited has acquired a 90% stake in EvergreenCrest Holdings Ltd., enhancing its presence in Indonesia's growing digital asset exchange market.

Target Information

OSL Group Limited (“OSL”), a leading entity in the digital asset sector based in Hong Kong, has executed an acquisition of a 90% interest in EvergreenCrest Holdings Ltd. (“EvergreenCrest”) for a consideration of approximately US$15 million (around HK$117 million). This transaction was finalized through the issuance of 9,266,168 shares by OSL. EvergreenCrest's subsidiaries manage Koinsayang, a licensed digital assets exchange in Indonesia, emphasizing OSL's strategic focus on expanding its global operations within the digital asset marketplace.

Industry Overview in Indonesia

The digital asset industry in Indonesia is on an upward trajectory, driven by increasing investor interest and regulatory advancements. With a growing population that is increasingly adopting digital technologies, the demand for cryptocurrency transactions has surged. Crypto trading platforms have begun to resonate with retail investors, thereby leading to higher trading volumes.

Indonesia's regulatory environment for cryptocurrencies has begun to mature, facilitating a clearer framework for operators in the market. The Indonesian government, alongside its