Hong Kong-based Cryptocurrency exchange OSL Group has raised $ 300 million in a stock sale.
OSL, who was the first exchange to win a license from Hong Kong Monetary Authority (HKMA), said it will use the new capital to develop new business initiatives, such as the construction of payment and stablecoin services.
Hong Kong will begin to allow stableecoin issuance under a new regulatory regime to come into force at the beginning of August. It is in the process of revealing a number of policies for regulating digital assets that create a framework to oversee exchanges and custodians for risk management and investor protection.
It also plans to allow professional investors to trade derivatives.
OSL also plans to use capital to support acquisition plans and strengthen its balance.
Read more: The market has become ‘too excited’ for stableecoins, says Hong Kong Financial Regulator
