OSL Group (00863) has announced its interim results for the six months ending June 30, 2026. The group recorded revenue of HK$55.813 billion, marking a 65.76% increase year-on-year. The loss attributable to company shareholders stood at HK$861 million, with a loss per share of HK$0.98.

Despite the downturn in digital asset prices and weak overall industry sentiment, the group achieved robust growth in trading volume and reported revenue. Total trading volume surged approximately 241.3% year-on-year to roughly HK$172 billion, while reported revenue climbed about 65.8% to approximately HK$55.8 billion.

Excluding market-making volume executed on the group’s exchange, trading volume for the first half of 2026 reached HK$97.7 billion (compared with HK$45.4 billion in the same period of 2025), representing a 115.2% increase year-on-year and reflecting underlying client activity. After adjusting for net losses on digital assets used to facilitate digital asset trading services and net fair value losses, adjusted non-IFRS revenue grew 75.5% year-on-year to HK$331 million, supported by the growth of its payment business, the integration of Banxa, and the launch of stablecoin distribution and payment products.

The solid growth in scale and reported earnings validates the group’s core market position—through strategic investments in four key capabilities: global connectivity, global licensing, instant settlement, and deep liquidity, OSL Group has transformed into a leading global stablecoin infrastructure company. These core competencies have become the group's fundamental strengths, collectively forming a moat that requires years to build and is difficult to replicate.