OSL Releases Full-Year 2025 Results: Revenue Hits a New High, Completing a Strategic Upgrade to Build a Stablecoin Ecosystem

Global stablecoin payments and trading platform OSL Group (863.HK) has released its 2025 full-year results. The report shows that both total revenue and core operating revenue have reached record highs, with a significant year-over-year increase. Going forward, OSL will continue to push forward its stablecoin-based payments blueprint and actively explore the application potential of AI technology to strengthen its position in global financial infrastructure.
(Background briefing: OSL Global Station launches USDC perpetual contracts supporting 19 coins and up to 10x leverage)
(Additional context: Hong Kong’s first batch of stablecoin licenses are expected to be issued as early as next week: Standard Chartered, HSBC, and OSL are expected to be shortlisted)

Table of Contents

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• Financial highlights

• Strategic upgrade, deepening compliance

• International expansion, diversified growth

• Focusing on payments, exploring AI

  • About OSL Group

（This article is a sponsored piece written by OSL, provided by OSL. It does not represent AtoN’s position, nor is it investment advice, or an offer or solicitation to buy or sell. Please see the disclaimer at the end for details.）

• Total revenue again hits a record high in 2025, core operating revenue posts a triple-digit surge year over year
• Successfully completed the strategic upgrade, becoming a global stablecoin payments and trading platform, actively building a stablecoin ecosystem
• Stablecoin trading volume accounts for 60% of the platform’s total trading volume; launched multiple products and services around stablecoin payments

Global stablecoin payments and trading platform OSL Group (HKEX: 863) has announced its full-year results for the year ended December 31, 2025. Over the past year, the OSL Group’s business growth has been strong, total revenue has again reached a record high, the results of its international expansion have been notable, and it has completed the strategic upgrade from a “digital asset exchange” to a “global stablecoin payments and trading platform.”

Financial highlights

• Core operating revenue: HK$534 million, up 150.1% year over year
• Total revenue: HK$489 million, a record high, up 30.4% year over year
• Stablecoin trading volume as a share of total trading volume: 60%
• Platform total trading volume: HK$201.22 billion, up 200.7% year over year
• Revenue mix: 33% – Hong Kong, 67% – overseas

Kevin Cui, Executive Director and Chief Executive Officer of OSL Group, said:

“Throughout our journey, OSL Group is no longer just a digital asset exchange—it has evolved into a global stablecoin payments and trading platform. Today, the global financial system is undergoing an intergenerational transition from traditional fiat currency infrastructure to stablecoin infrastructure. Our strong business growth in 2025 powerfully demonstrates our precise grasp of this historic opportunity.

The mission of OSL Group is to make capital flow as freely as information. We are building the next-generation financial market infrastructure—connecting stablecoins, fiat currencies, and other digital assets to enable seamless exchange of value. Going forward, under the principles of compliance-first and prudence above all, OSL Group will continue to drive forward at full speed its strategic blueprint for stablecoin-based payments and trading, actively embracing and deeply participating in this cross-era transformation of finance.”

Strategic upgrade, deepening compliance

In 2025, OSL Group reached a milestone marking five years since its launch of digital asset business operations, achieving compliance-oriented expansion. From the outset as the first Hong Kong-listed and Hong Kong Securities and Futures Commission-licensed digital asset exchange, then to a later evolution into a compliant cross-border digital asset platform, and now to a global stablecoin payments and trading platform—OSL Group’s strategic upgrade and evolution have been accompanied by the industry’s rapid development, strong market demand, and the company’s forward-looking vision for the future of the global financial system. Through self-application and strategic acquisitions, the company currently has obtained more than 50 licenses and registration approvals across more than 11 regions worldwide. Looking ahead, stablecoins will play an increasingly important role in building OSL Group’s global payments and trading ecosystem and its compliance network.

International expansion, diversified growth

In 2025, OSL Group implemented a dual-engine model of “payments + trading.” Despite volatility in the digital asset market, the company’s performance remained resilient. Total revenue once again hit an all-time high, and core revenue also achieved a significant triple-digit increase year over year. The payments business launched in 2025 made a substantial contribution to the growth of OSL Group’s full-year results, becoming a new growth driver, and helping the company significantly expand overseas revenue. In the reporting period, overseas revenue already accounted for two-thirds of the company’s total revenue. Due to strategic expansion, the company increased investment across multiple areas including technology, manpower, and services. Although 2025 recorded a net loss as a result, in the future the company will continue to optimize operating efficiency and actively leverage artificial intelligence technology to further enhance its business performance.

Focusing on payments, exploring AI

In 2025, OSL Group fully rolled out its stablecoin payments and trading business. It launched a number of stablecoin payments and cash-in/cash-out products and services, including an all-in-one stablecoin corporate payment solutions offering, OSL BizPay, among others. It acquired Banxa, a global leading Web3 payments provider, and launched USDGO, an enterprise-level compliant stablecoin denominated in U.S. dollars that is regulated by the U.S. Federal framework, with OSL Group serving as the brand and operator. The acquisition of Banxa was completed in January 2026. In addition, USDGO was officially launched in February 2026, and OSL StableHub, a global compliant stablecoin trading hub, was introduced. Going forward, OSL Group will further enrich its stablecoin products and services and actively leverage artificial intelligence technology to explore the huge potential of intelligent payment methods for increasing the scale of stablecoin payments.

About OSL Group

OSL Group (HKEX: 863.HK) is a global stablecoin payments and trading platform committed to providing compliant and efficient next-generation digital financial infrastructure services worldwide. It enables any enterprise, financial institution, and individual to achieve seamless conversion, payments, trading, and settlement between fiat currency and digital money. Rooted in the core values of “open, secure, and compliant,” OSL Group is dedicated to building an efficient ecosystem that connects global markets and enables global capital to flow in real time, seamlessly, and in compliance.

Disclaimer

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