OSL Group, one of Asia’s leading digital asset platforms, has raised $300 million through an equity financing round, marking the largest publicly disclosed capital raise in the region’s crypto space to date.

The announcement comes just ahead of Hong Kong’s new stablecoin legislation, which takes effect on August 1.

The firm, listed under ticker 0863.HK, said proceeds from the deal will fund global expansion efforts, including the development of regulated stablecoin infrastructure, licensing in new jurisdictions, and the launch of a compliant digital payments network.

The fundraising deal priced shares at HK$14.90, reflecting a 15.3% discount from Thursday’s close.

Shares of OSL opened more than 10% lower on Friday, reacting to the dilution and discounted placement price. Still, the stock is up 120% year-to-date.

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