Grail announced on November 4th that OSL Group (00863.HK) signed a stock purchase agreement with four independent third parties through its wholly-owned subsidiary OSL Japan on November 4th, 2024 to acquire a controlling stake in Coin Best Co., Ltd. ("Target Company"), a cryptocurrency trading platform licensed by the Japanese Financial Services Agency. According to the agreement, OSL Japan agreed to acquire 81.38% of the shares of the Target Company from the four independent third parties. The completion of the acquisition depends on the fulfillment of the conditions precedent in the stock purchase agreement and is set to be finalized by December 31, 2025 as the delivery deadline.

Japan is known as one of the more mature and essential digital assets markets in the Asia-Pacific region. This acquisition marks a key strategy for the group's official entry into the Japanese market, representing a significant milestone in the group's global expansion blueprint. The group has been a leader in regulated digital asset markets in the Asia-Pacific region, providing quality services to investors in the region. The group's strategic position in the digital asset market stands out in the industry with its comprehensive compliance operation model, extensive operational experience, and excellent market reputation. The group successfully passed the SOC2 Type 2 audit in 2023, demonstrating its outstanding security standards. Following the completion of the acquisition, the group expects to achieve business synergy through a broader range of product categories, shared operational and technological resources, application of industry best practices, and improvement in global trading liquidity and efficiency.