OSL Group plans to fully acquire Banxa for CAD 85.2 million, accelerating the expansion of its global cryptocurrency business

Foresight News reported that according to official announcements, OSL Group (HKEX: 00863) announced that it has signed an arrangement agreement with the acquiring entities OSL BNXA Acquisition Inc. and Banxa on June 27th, intending to acquire all shares of Banxa through a planned arrangement, including shares converted from convertible notes before the effective date, with a total acquisition consideration of up to approximately CAD 85.2 million. Banxa is a company registered in British Columbia, Canada and listed on the Toronto Stock Exchange's ChiNext board. It focuses on providing embedded cryptocurrency infrastructure for businesses, with operations covering multiple regions in Europe, North America, and Australia, and holds multiple compliance licenses. OSL stated that this acquisition is in line with the group's strategic plan to expand its digital asset services globally and will further strengthen its market position as a compliant digital asset service provider.