OSL Group Expands into Indonesia

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Hong Kong’s OSL Group has agreed to acquire a 90% stake in Indonesia-based crypto exchange Evergreen Crest for $15 million, marking its latest move to grow its Southeast Asian footprint.

In a Hong Kong Stock Exchange filing on Monday, OSL confirmed the deal through its wholly owned subsidiary, stating the purchase grants it “immediate and strategic access to Indonesia’s digital asset market.”

“Indonesia offers strong growth potential with its young population, solid economic fundamentals, and rapidly rising crypto adoption,” OSL noted.

The acquisition also secures OSL regulatory licenses for crypto spot and derivatives trading in Indonesia via Evergreen Crest’s subsidiaries.