Cryptocurrency Exchange Osl Group based in Hong Kong headquarters has raised $ 300 million in a capital sale.
OSL, which was the first exchange to win a license from the Monetary Authority of Hong Kong (HKMA), said it will use the new capital to develop new commercial initiatives, such as the creation of payment services and the services of Stablecoin.
Hong Kong will begin to allow the issuance of Stablecoin under a new regulatory regime in force in early August. It is in the process of revealing a variety of policies for the regulation of digital assets, establishing a framework to supervise exchanges and custodians for the purposes of risk management and investor protection.
It also plans to allow professional investors to be marketed.
OSL also plans to use capital to support acquisition plans and strengthen their balance sheet.
Read more: the market has ‘too excited’ by Stablecoins, says Hong Kong’s financial regulator
