OSL Group reported its annual results for the year ended 31 December 2025. The company said it recorded growth during the year and shifted its strategy towards stablecoin payments and trading.
Core operating income rose 150.1% year-on-year to HK$534 million, while total income increased 30.4% to HK$489 million.
Total platform trading volume reached HK$201.22 billion, marking a 200.7% increase from the previous year and stablecoins accounted for 60% of total trading volume.
OSL said it generated 67% of its income from overseas markets, compared with 33% from Hong Kong.
Kevin Cui, Executive Director and Chief Executive Officer of OSL Group, said:
“We are currently witnessing a generational transformation as the global financial system extends from traditional fiat-based infrastructure toward one rooted in stablecoins. Looking ahead, OSL Group will accelerate its strategic roadmap for stablecoin payments and trading while remaining firmly committed to the principles of ‘compliance-first and prudence-led,’ as we actively embrace and deeply engage in this era-defining financial transformation.”
The company said 2025 marked five years of operating its digital asset business under a compliance-led framework.
It has expanded from a Hong Kong-based, licensed digital asset exchange into a platform operating across multiple jurisdictions.
OSL holds more than 50 licenses and registrations across over 11 markets. These were obtained through a combination of applications and acquisitions.
The company said its 2025 growth strategy combined organic expansion with acquisitions and that its payments business, launched during the year, contributed to overall performance.
This also increased the share of overseas income.
With higher spending on technology, staffing, and services, the company reported a net loss for the year and is focusing on improving efficiency while applying AI to its operations.
During the year, the company introduced several products, including OSL BizPay, a stablecoin payment service for enterprises.
It also announced the acquisition of Banxa, completed in January 2026, and the launch of USDGO, described as a US dollar-backed stablecoin, in February 2026.
Looking ahead, OSL plans to expand its stablecoin offerings and explore the use of artificial intelligence in areas such as “agentic payments” to support transaction growth.
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