The research report shows impressive numbers, but more importantly, it marks the upgrade from a trading platform to a global stablecoin infrastructure — the value of the Hong Kong compliance license is being re-evaluated, and after mid-term cost structure optimization, the profit potential is worth looking forward to.

Dongwu Securities (Hong Kong) research report states that OSL Group's 2025 adjusted revenue will be HKD 534 million, a year-on-year increase of 150.1%. The company has upgraded its positioning from a Hong Kong digital asset trading platform to a global stablecoin payment and trading platform, with stablecoins accounting for 60%. Revenue will be driven by stablecoin payments, fiat currency deposits and withdrawals, and B2B cross-border settlements. Profitability is expected to improve in the medium term due to increased payment share and reduced costs from channel reuse.