Workflow
Embedded crypto infrastructure
icon
Search documents
Banxa Holdings Provides Update on Previously Announced Plan of Arrangement with OSL Group
Newsfileยท 2025-09-04 20:44
Core Viewpoint - Banxa Holdings Inc. is progressing towards completing its plan of arrangement with OSL Group, contingent on obtaining necessary regulatory approvals [1][2]. Regulatory Approvals - Banxa has received change of control approval for money-transmitter licenses in 17 out of 37 designated U.S. states [2]. - The company has obtained a declaration of no objection from the Netherlands De Nederlandsche Bank, marking a significant milestone towards acquiring a license under the Markets in Crypto-Assets Regulation [2]. - Notifications have been submitted to the Financial Conduct Authority in the United Kingdom as part of the regulatory approval process [2]. Court Proceedings - The hearing for the final order to approve the arrangement was adjourned by the Supreme Court of British Columbia to allow more time for the parties to secure the remaining required regulatory approvals [3]. Conditions Precedent - The completion of the arrangement is subject to the satisfaction or waiver of conditions outlined in the arrangement agreement dated June 27, 2025 [4].