OSL Group, a leading financial services provider, has recently made a strategic move by expanding into the Japanese market through the acquisition of CoinBest, a local crypto exchange. This acquisition, which includes an 81.38% stake in CoinBest, marks OSL’s entry into Japan’s highly regulated crypto market, which boasts over 5 million active accounts as of 2023.
By acquiring CoinBest, OSL aims to enhance liquidity and increase its regional influence in Japan. CoinBest is among the 29 regulated crypto trading platforms in Japan that cater to both retail and institutional clients. This acquisition is a significant step for OSL, as it seeks to leverage its stake in CoinBest to improve global trading liquidity across its platforms and network, including OSL Digital Securities.
Ivan Wong, OSL Group’s Chief Investment Officer, emphasized the importance of this acquisition in expanding OSL’s reach and tapping into Japan’s advanced market. He expressed OSL’s commitment to bringing its expertise in OTC, custody, and trading services to new markets, while also gaining insights and technologies to strengthen its competitive edge.
Japan is known for its strict regulatory framework for digital asset service providers, overseen by the Financial Services Agency (FSA). These regulations, which include stringent AML and cybersecurity protocols, aim to protect customers’ funds and ensure market compliance and security. By adhering to these regulations, Japan has created a safe environment for crypto trading while fostering innovation in blockchain technology and stablecoins.
In conclusion, OSL Group’s acquisition of CoinBest represents a significant milestone in its expansion into the Japanese market. With a focus on enhancing liquidity, leveraging operational synergies, and complying with regulatory standards, OSL is poised to strengthen its presence in Japan’s evolving crypto ecosystem. As the company continues to grow and adapt to new markets, it remains committed to delivering innovative financial services and maintaining a competitive edge in the global landscape.