Core Viewpoint - OSL Group has completed the strategic acquisition of Banxa Holdings Inc., enhancing its payment product line and global expansion strategy, maintaining a "buy" rating [1] Group 1: Company Overview - Banxa is a payment service provider (PSP) and regulatory technology company headquartered in Australia, Europe, and North America, focusing on bridging traditional financial institutions with the digital asset space since its inception in March 2014 [2] - Banxa has established a strong position in the Australian market and has shifted its strategic focus towards international expansion since acquiring EU Internet Ventures B.V. in June 2020 [2] Group 2: Business Model and Compliance - Banxa positions itself as a "bridge" service provider between fiat currencies and cryptocurrencies, rather than competing with traditional cryptocurrency exchanges [3] - The company has a payment gateway infrastructure supporting multi-currency exchanges and online payment services, ensuring compliance with local laws, AML, and KYC standards, which attracts major industry players as clients [3] Group 3: Strategic Benefits of Acquisition - The integration of Banxa's international payment network will provide OSL Group with over 40 trading and payment licenses across the US, Canada, EU, UK, and Australia, enhancing its global cash flow capabilities [4] - The acquisition will create synergies between Banxa's B2B payment solutions and OSL's digital asset trading and stablecoin business, improving customer retention and operational efficiency [5] Group 4: Financial Impact - Banxa's revenue for the first half of 2025 was HKD 53.93 million, which is expected to significantly boost OSL's payment business revenue, which was HKD 195 million for the same period [6] - Revenue projections for OSL from 2025 to 2027 are estimated at HKD 514 million, HKD 873 million, and HKD 1.172 billion, with year-on-year growth rates of 37.12%, 69.91%, and 34.29% respectively [6]

Core Insights - OSL Group has completed the strategic acquisition of Banxa Holdings Inc., enhancing its position in the stablecoin trading and payment platform sector, with a focus on compliance and global expansion [1] Group 1: Company Overview - Banxa is an Australian-based payment service provider and regulatory technology company, focusing on bridging traditional financial institutions with the digital asset space since its inception in March 2014 [2] - The company has established a strong presence in the Australian market and has shifted its strategic focus towards international expansion since acquiring EU Internet Ventures B.V. in June 2020 [2] Group 2: Strategic Benefits of Acquisition - The acquisition will provide OSL Group with over 40 trading and payment licenses across the US, Canada, EU, UK, and Australia, enhancing its global payment capabilities and supporting customer needs for fiat and cryptocurrency exchanges [3] - Banxa's B2B payment solutions will complement OSL's digital asset trading and stablecoin business, creating a one-stop service for trading, payment, and fund transfers, thereby increasing customer retention [4] Group 3: Financial Impact - Banxa's revenue for the first half of 2025 was HKD 53.93 million, which is expected to significantly boost OSL's payment business revenue, which was HKD 195 million in the same period [5] - Revenue projections for OSL Group post-acquisition are estimated at HKD 514 million, HKD 873 million, and HKD 1.172 billion for 2025-2027, with year-on-year growth rates of 37.12%, 69.91%, and 34.29% respectively [5]

来源：格隆汇APP 格隆汇1月9日｜亚洲领先的稳定币交易及支付平台OSL集团(0863.HK)今日宣布，凭借在数字资产领域 的卓越技术实力、严谨的合规体系以及深度产业赋能实践的综合实力，公司荣登"2025 毕马威中国金融 科技企业双50榜单"，跻身"综合金融科技"赛道的领军行列。作为香港数字资产行业的标杆，OSL集团 的入选不仅彰显了其在亚洲市场的领先地位，也体现了专业机构对其推动数字金融高质量发展的充分肯 定。 ...

Investment Rating - The investment rating for OSL Group is "Buy" (maintained) [1][7] Core Insights - The strategic acquisition of Banxa Holdings Inc. enhances OSL Group's compliance capabilities and global payment infrastructure, positioning the company for significant growth in the B2B sector [4][6] - OSL Group's revenue is projected to grow significantly, with estimates of HKD 514 million in 2025, HKD 873 million in 2026, and HKD 1.172 billion in 2027, reflecting growth rates of 37.12%, 69.91%, and 34.29% respectively [5][6] - The acquisition is expected to improve OSL's payment business revenue substantially, with Banxa's revenue for the first half of 2025 estimated at HKD 53.93 million [6] Financial Projections - Revenue projections for OSL Group are as follows: HKD 375 million for 2024, HKD 514 million for 2025, HKD 873 million for 2026, and HKD 1.172 billion for 2027 [5][7] - The forecasted net profit for OSL Group shows a loss of HKD 75.74 million in 2025, a slight loss of HKD 2.56 million in 2026, and a profit of HKD 194 million in 2027 [5][6] - The Price-to-Sales (P/S) ratio is expected to decrease from 29.90 in 2024 to 9.56 in 2027, indicating improved valuation as revenue grows [5][7]

OSL Group Conference Call Summary Company Overview - OSL Group has acquired Banzaa, obtaining licenses in 36 states in the US and the UK, as well as the European MiCA license, laying the foundation for global business expansion [2][4] - Banzaa focuses on enterprise client payment infrastructure and compliance systems, providing fiat and cryptocurrency conversion services, which synergizes with OSL's compliance and global expansion efforts [2][6] Key Financial Insights - Banzaa is expected to significantly contribute to OSL's overall revenue, with Banzaa's revenue projected at approximately HKD 54 million for the first half of 2025, compared to OSL's revenue of HKD 195 million during the same period [7] - OSL's payment-related revenue is expected to increase from nearly 30% in the first half of 2025 to over 40%-50% by 2026, reducing reliance on cryptocurrency price fluctuations [2][9] Product Developments - OSL launched the USD Go stablecoin, compliant with the US Genius Act, aimed at simplifying customer choices and providing value-added services for cross-border payments [2][10] - The initial deployment of USD Go is on the Solana blockchain, with high market demand noted, although details on issuance and redemption fees are still unclear [10][11] Strategic Focus Areas - In 2025, OSL's main revenue sources are expected to be from Hong Kong OTC business and European inflow/outflow operations [12] - For 2026, OSL plans to expand its BizPay payment service provider network, enhance its exchange business in Europe, and focus on the Indonesian market, aiming for a 50% growth in existing business lines and double-digit growth from new ventures [12] Competitive Landscape - The recent listing of Hashkey is seen as a positive signal for the industry, with a focus on revenue scale rather than trading volume. Hashkey's projected total revenue for 2024 is approximately HKD 540 million, compared to OSL's HKD 375 million [5][14] - OSL is expected to meet the entry standards for the Hong Kong market, with announcements anticipated on February 20, 2026, and effective from March 9, 2026 [17] Regulatory Environment - The issuance of stablecoin licenses in Hong Kong may favor banks, but if used outside the system, OSL may seek partnership opportunities. Clarified policies are expected to enhance cross-border payment penetration [18] - Current regulations are strict for retail investors but less so for professional investors and institutions, indicating a potential shift in the regulatory landscape that needs ongoing monitoring [19][20] Conclusion - The acquisition of Banzaa and the launch of USD Go are pivotal for OSL's growth strategy, with a strong focus on compliance and expanding its service offerings in the payment sector. The company is well-positioned to leverage its new licenses and partnerships to enhance its market presence and financial performance in the coming years [2][4][12]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 公司名稱: OSL 集團有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00863 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | 本月底法定/註冊股本總額： HK ...

每经AI快讯，OSL集团(00863.HK)一度涨超5%，截至发稿涨3.53%，报17.58港元，成交额3326.81万港 元。 ...

Group 1 - OSL Group's stock has increased by over 5%, currently trading at 17.58 HKD with a transaction volume of 33.2681 million HKD [1] - The company has completed a strategic acquisition of Web3 payment service provider Banxa Holdings Inc. [1] - Following the integration of Banxa's international payment network, OSL Group will gain over 40 trading and payment licenses across regions including the US, Canada, EU, UK, and Australia [1] Group 2 - OSL Group's CEO, 崔崧, stated that the acquisition of Banxa is crucial for building a global stablecoin trading and payment ecosystem [1] - The company aims to establish a compliant trading and payment network that seamlessly connects fiat and digital assets on a global scale [1] - This strategic move positions OSL Group as an industry pioneer and lays a solid foundation for the future development of its payment services, addressing the growing demand for cross-border commercial payments [1]

Group 1 - OSL Group (00863.HK) announced that all conditions under the arrangement agreement have been met or waived, and the proposed acquisition was completed on January 2, 2026 [1] - Following the completion of the proposed acquisition, Banxa has become an indirect wholly-owned subsidiary of the company [1] - Banxa is a leading infrastructure provider focused on facilitating the buying and selling of digital assets, holding multiple licenses and registrations across various jurisdictions [1] Group 2 - The licenses and registrations held by Banxa include a crypto service provider registration in the Netherlands, a money services business license in Canada, a digital currency exchange registration in Australia, a crypto asset service provider license in the UK, and a money transfer license in the US or equivalent licenses in several states [1]

Core Viewpoint - OSL Group has completed the strategic acquisition of Banxa Holdings Inc., marking a significant milestone in building a stablecoin trading and payment ecosystem and enhancing its global compliance payment network [1] Group 1: Acquisition Details - The acquisition of Banxa is part of OSL Group's strategy to develop a comprehensive stablecoin trading and payment ecosystem [1] - OSL Group has successfully evolved from Hong Kong's first compliant digital asset trading platform to an international mainstream stablecoin trading and payment hub by 2025 [1] Group 2: Strategic Development - OSL Group has defined a dual development strategy of "organic growth + strategic acquisitions" [1] - The integration of Banxa's international payment network will provide OSL Group with over 40 trading and payment licenses and registrations across regions including the US, Canada, EU, UK, and Australia [1] Group 3: Executive Insights - The CEO of OSL Group, Cui Song, emphasized that the acquisition is crucial for building a global stablecoin trading and payment ecosystem [1] - The establishment of a compliant trading and payment network that seamlessly connects fiat and digital assets is expected to enhance OSL Group's competitive advantage and support its payment business development [1]