OSL's Impressive Half-Year Report: Globalization Strategy Pays Off, Turning the Tide
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OSL's Impressive Half-Year Report: Globalization Strategy Pays Off, Turning the Tide
In six months, revenue grew by 17% and client assets surged 300%, OSL's mid-year 2024 performance report shows.
Navigating Web3 tides with focused insightsBy OSL
In six months, revenue grew by 17% and client assets surged 300%—this is OSL’s mid-year performance report for 2024.
The results are nothing short of impressive, particularly in reducing ongoing business losses to HK$9.6 million, a nearly 90% year-on-year decline. This significant achievement stems from OSL's global strategy in 2024, with coordinated progress across all business lines and deep reforms in strategic planning and operational execution.
In the First Half of 2024, OSL’s Strategy Was “Steady Progress Toward Long-Term Goals”
Over the past four years, OSL has accumulated extensive operational experience and developed exceptional market sensitivity, enabling it to rapidly enhance risk management and customer service capabilities under new regulatory frameworks. To meet the growing demands of Hong Kong’s digital asset market, OSL implemented several key initiatives in the first half of this year:
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Strengthened its partnership with global insurance giant Canopius, comprehensively upgrading digital asset custody insurance with higher coverage limits and broader protection, significantly boosting client trust in the platform;
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Made critical adjustments to the SOC 2 Type 2 reporting process to align with enterprise client needs and industry best practices, effectively enhancing operational transparency and compliance;
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Had its shares (863.HK) included in the MSCI Global Small Cap Index, marking a dual success in rapid business growth and elevated market standing, while also increasing its international visibility and highlighting the importance of the digital asset sector within global financial markets;
Through these comprehensive strategic moves, OSL not only solidified its industry leadership in the first half of the year but also demonstrated its multifaceted ability to drive the broader development of the digital asset industry. We look forward to OSL continuing to leverage this valuable experience to advance both the company and Hong Kong’s Web3 ecosystem toward even higher goals.
New Variables for Hong Kong and OSL
Meanwhile, in the past six months OSL has aggressively innovated in digital asset ETFs and compliance solutions, greatly enhancing the competitiveness of its product offerings and reinforcing its market leadership.
With the launch of Hong Kong’s new licensing regime for virtual asset trading platforms on June 1, OSL—being one of only two licensed exchanges—has entered a period of expansive growth:
Collaborating with virtual asset ETF issuers such as China Asset Management (Hong Kong) and Harvest Fund International, OSL launched Hong Kong’s first spot Bitcoin and Ethereum ETFs, featuring in-kind subscription and redemption mechanisms. This made Hong Kong the first market globally to offer such products, strengthening its position in the global Web3 landscape and setting a successful precedent for other markets.
Leveraging its deep expertise in custody and trading services, OSL has taken a leading role—not only providing core trading functionality but also actively shaping the regulatory and technical framework of the ETF market. Committed to building a Web3 ecosystem that meets global standards, OSL has attracted numerous institutional and retail investors seeking secure and reliable investment opportunities.
Furthermore, obtaining an AMLO license reaffirms OSL’s leadership in digital asset security and regulatory compliance, drawing more institutional clients and professional investors.
We expect OSL to maintain high standards in this evolving regulatory environment, offering safe and dependable platforms for partners and clients alike, and driving the healthy growth of Hong Kong’s digital asset market.
A New Financial Landscape Is Taking Shape in Hong Kong
OSL is actively pursuing cross-industry collaborations with leading players, especially focusing on integrating traditional financial services with modern digital asset technologies. Early this year, OSL partnered with UBS Group to issue Hong Kong’s first investment-grade tokenized warrant on the Ethereum public blockchain—an innovative application of blockchain technology in traditional financial products. This move not only highlights OSL’s innovation and leadership in the digital asset space but also signals the future direction of convergence between digital assets and traditional finance.
Through such partnerships, OSL aims to promote broader industry adoption and application, playing a pivotal role in building a global digital asset ecosystem. Whether in staking services for digital asset ETFs or real-world asset (RWA) tokenization, OSL continues to make strategic investments.
Overall, future growth potential in Hong Kong’s digital asset market will center on enhanced investor protection and greater trading transparency. As more licensed exchanges enter the market, service quality and technological innovation are bound to improve significantly. This is a historic opportunity—but also presents new challenges for OSL as the market leader.
All that has happened is just the prologue. OSL will continue to lead through product innovation, particularly by advancing industry standards in security, compliance, and education. We believe that through collaboration with other market participants, we can not only strengthen our own position but also jointly foster the healthy development of the entire industry, building a more robust and inclusive virtual asset market.
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