OSL Group has reported its full-year results for the period ended December 31, 2025, posting record highs in both total revenue and core operating revenue. According to the company, core operating revenue reached HK$534 million, up 150.1% year over year, while total revenue rose to HK$489 million, up 30.4%. Platform trading volume climbed to HK$201.22 billion, representing 200.7% annual growth, with stablecoins accounting for 60% of total trading volume.
Strategic shift toward stablecoin infrastructure
OSL said it has completed a strategic transition from a digital asset exchange into a global stablecoin payments and trading platform. The company described 2025 as a milestone year marking five years of compliant digital asset operations. Through organic licensing efforts and strategic acquisitions, OSL said it now holds more than 50 licenses and registrations across over 11 jurisdictions, strengthening its regulatory footprint and global expansion strategy.
International business gains weight as payments expand
Revenue mix also highlighted OSL’s growing international presence. The company said 33% of revenue came from Hong Kong and 67% from overseas markets. Management attributed part of the growth to its “payments + trading” model, with the payments segment launched in 2025 becoming a new growth driver and helping overseas revenue rise to roughly two-thirds of the total. OSL added that expanded investment in technology, staffing, and services led to a net loss during the year, but said it plans to improve operating efficiency going forward.
New stablecoin products and AI exploration
On the product side, OSL said it launched several stablecoin payment and fiat on/off-ramp services in 2025, including OSL BizPay. The company also disclosed its acquisition of Web3 payments provider Banxa, which was completed in January 2026. In February 2026, OSL launched the enterprise-grade compliant U.S. dollar stablecoin USDGO, for which it acts as brand and operator, as well as the compliant stablecoin trading hub OSL StableHub. The company said it will continue expanding stablecoin-related services while exploring how artificial intelligence can support payment use cases and improve business performance.
Executive Director and CEO Kevin Cui said the global financial system is moving from traditional fiat infrastructure toward stablecoin-based infrastructure, and that OSL intends to keep advancing its strategy under a compliance-first and prudent operating framework. The original release also noted that the material is for informational purposes only and does not constitute investment advice.