OSL Group Completes Acquisition Of Indonesia's Crypto Exchange Coin Sayang

JAKARTA OSL Group, a digital asset platform based in Hong Kong, has officially completed the acquisition of Coincintang, a licensed digital asset exchange in Indonesia.

This step marks the strategic expansion of OSL in Southeast Asia and strengthens the company's plans for the development of real-World Assets (RWA) and digital financial tokenization.

The acquisition was carried out indirectly through the majority shareholder of Coin Sayang, with the issuance of around 9,266 million OSL Group shares as a form of transaction consideration.

Through this agreement, OSL obtained full regulatory approval to operate in Indonesia, including a cryptocurrency trading license and derivatives.

The move is part of OSL Group's efforts to expand its business footprint in the Southeast Asian crypto market, which is considered very potential.

According to data from the Indonesian Blockchain Association (ABI), Indonesia accounts for around 10.1 percent of global interest in RWA, making it the third-highest country in the world.

By combining the capabilities of technology and global regulatory experience of OSL as well as the local market base of Cointau, the company targets the provision of regulated financial products that can expand the client's reach while strengthening blockchain adoption and compliance standards in the region.

This acquisition is also expected to diversify OSL revenue streams, expand user bases, and increase the company's international competitiveness.

OSL Group Chief Financial Officer Ivan Wong said, Indonesia is a very strategic market for the company's global expansion.

Indonesia offers scale and structure, and has great potential to integrate TradFi and Web3 as well as access regulated crypto payments. With a large digital financial user base, strong internet penetration, and a relatively clear regulatory framework, Indonesia is the ideal market and one of the main regional centers in Southeast Asia for digital asset services," said Ivan Wong.