Crypto Exchange OSL Gets $300M Equity Finance For Growth
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Diverging Reports Breakdown
OSL Raises Record $300M in Asia’s Largest Digital Asset Equity Deal
OSL Group has completed a $300 million equity financing round. The company claims it is the largest publicly disclosed fundraise by a digital asset firm in Asia to date. OSL shares have already gained 120% year-to-date, reflecting investor appetite for regulated crypto exposure in the Asian financial hub. The fundraising could further accelerate momentum in Hong Kong’s digital asset sector as new regulations create clearer operating parameters.
The Hong Kong Stock Exchange-listed crypto platform announced the milestone Thursday, positioning the capital raise as validation of its regulated approach to digital assets ahead of the city’s new stablecoin framework launching August 1.
We’re excited to announce that OSL Group (HKEX: 863) has successfully completed a US$300 million equity financing, marking the largest publicly disclosed equity raise in Asia’s digital asset sector to date.
This milestone reflects strong market recognition of our digital asset… pic.twitter.com/CbCWZSwnrr — OSL (@osldotcom) July 25, 2025
OSL shares have already gained 120% year-to-date, reflecting growing investor appetite for regulated crypto exposure in the Asian financial hub. The fundraising could further accelerate momentum in Hong Kong’s digital asset sector as new regulations create clearer operating parameters.
“This milestone reflects strong market recognition of our digital asset business model and long-term growth trajectory,” OSL stated in announcing the raise.
The company outlined three strategic uses for the fresh capital: funding potential acquisitions, developing new global business lines including payment and stablecoin services, and strengthening working capital for expansion.
OSL’s emphasis on payments and stablecoins aligns with Hong Kong’s regulatory timeline. The territory’s new stablecoin licensing regime takes effect next week, potentially creating opportunities for compliant operators to capture market share in the growing digital payments sector.
The company has positioned itself as a bridge between traditional finance and crypto markets, operating as one of the few licensed digital asset platforms in Hong Kong. This regulated status could prove valuable as institutional adoption accelerates and compliance requirements become more stringent globally.
Bullish Takes Aim at Public Markets with NYSE IPO Filing
Bullish, a global digital asset platform catering to institutional clients, announced Saturday that it has publicly filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission. The number of shares and the price range for the proposed offering have yet to be determined. Bullish has applied to list its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol “BLSH” The offering will be managed by a syndicate of major financial institutions.
This move signifies a major step for the crypto-native company to enter traditional equity markets, reflecting the growing institutional interest and maturation of the digital asset industry.
Bullish, which operates a regulated digital assets spot and derivatives exchange (Bullish Exchange), also encompasses CoinDesk Indices, CoinDesk Data, and CoinDesk Insights, including the crypto news platform Coindesk.com. The company highlighted its focus on providing market infrastructure and information services, aiming to bridge the gap between traditional finance and the digital asset ecosystem.
While the number of shares and the price range for the proposed offering have yet to be determined, Bullish has applied to list its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol “BLSH.” The IPO’s completion remains subject to market conditions and regulatory effectiveness of the registration statement.
The offering will be managed by a syndicate of major financial institutions, with J.P. Morgan and Jefferies acting as lead book-running managers, and Citigroup as a joint book-running manager. Additional book-running managers include Cantor, Deutsche Bank Securities, and Societe Generale, with Canaccord Genuity, Keefe, Bruyette & Woods (a Stifel Company), and Oppenheimer & Co. serving as co-managers.
Bullish, incubated by blockchain firm Block.one and backed by investors such as Peter Thiel’s Founders Fund, Nomura, and Mike Novogratz, has seen significant activity on its exchange. As of March 31, 2025, the Bullish Exchange has processed over $1.25 trillion in total trading volume since its launch, with an average daily trading volume exceeding $2.5 billion in Q1 2025. This volume places it among the top global exchanges for spot Bitcoin and Ethereum trading. The company’s acquisition of CoinDesk in 2023 further expanded its footprint in the digital asset information and media landscape.
The filing of this IPO follows a trend of crypto companies seeking public listings amidst evolving regulatory clarity and increased institutional adoption in 2025.