OSL
OSL Group is a Hong Kong-headquartered, publicly listed digital asset platform offering regulated trading, custody, payments, tokenization, and stablecoin services to institutional investors, retail users, and enterprises across more than ten jurisdictions under fifty-plus regulatory licenses.
- Company typePublic
- Founded2018
- HeadquartersHong Kong, Hong Kong SAR China
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What OSL does
OSL Group is a regulated digital asset platform headquartered in Hong Kong, operating across ten or more regions under more than fifty regulatory licenses — including Hong Kong SFC Type 1/4/7/9 with AMLO registration, Japan FSA CAESPs, Indonesia OJK Digital Asset Trader, Bermuda BMA Class F, and Australia AUSTRAC. Founded in 2018 and recognized as the first and only publicly listed, licensed crypto exchange in Hong Kong, the company serves institutional investors, retail users, enterprises, payment service providers, gaming platforms, eCommerce merchants, fintechs, and brokerages with a vertically integrated digital-asset stack covering trading, payments, custody, tokenization, and stablecoin issuance.
The platform's product surface centers on OSL Global, with Pro Trade (institutional spot trading on a high-speed matching engine), Flash Trade (RFQ-based instant conversions with zero commission), OSL Futures (USDC-settled perpetuals), and an OTC and Execution desk for large blocks. Adjacent infrastructure includes OSL BizPay and OSL Pay for enterprise and merchant payments, USDGO — a regulated U.S. dollar stablecoin issued via Anchorage Digital Bank N.A., initially minted at US$50 million on the Solana blockchain — cold-wallet custody with up to $1 billion in asset insurance, Omnibus Pro for unified account structures, and Tokenworks for asset tokenization. Customer-facing surfaces include iOS and Android apps with Apple Pay/Google Pay fiat ramps, an institutional API documented at docs.glb.osl.com, and fiat on/off-ramps delivered through a Banxa integration.
Revenue is generated from multiple streams: maker/taker trading fees on Pro Trade, spreads embedded in OTC/Flash Trade quotes, custody fees for institutional clients (monthly account maintenance fees are waived), enterprise payment transaction fees via BizPay and Pay, and stablecoin issuance economics from USDGO. Distribution combines enterprise field sales for institutional onboarding with self-serve mobile and web channels for retail users, augmented by channel partnerships (notably SoFi Securities Hong Kong), brand sponsorships (McLaren Racing), and index relationships (Grayscale Litecoin Trust via the CoinDesk Litecoin Benchmark Rate). The 2024 acquisition of CoinBest signals inorganic consolidation alongside ongoing multi-jurisdictional expansion and product launches through 2026.
OSL firmographics
Firmographics- Name
- OSL
- Legal name
- OSL Group
- Website
- https://osl.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- OSL Group is a Hong Kong-headquartered, publicly listed digital asset platform offering regulated trading, custody, payments, tokenization, and stablecoin services to institutional investors, retail users, and enterprises across more than ten jurisdictions under fifty-plus regulatory licenses.
- Ownership category
- akta.pro rank
OSL industry classification
Industry- Product category
- Regulated Digital Asset Exchange
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities and Commodity Exchanges (52321)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- Digital Asset/Crypto Trade Execution Platforms (FSAFANAO)
- akta.pro secondary industries
- OTC Desks & Block Trading Networks (FSAPADAH), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), OTC Spot Trading & Block Execution (FSADAJAB), Stablecoin Issuers (Fiat-Backed) (FSADADAA), Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB)
Keywords
Where OSL is headquartered
LocationHeadquarters
- HQ city
- Hong Kong
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices5 records
Markets served
OSL business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others
Revenue model
- Trading Fees (Pro Trade): Maker and taker fees charged on exchange traded pairs through Pro Trade platform. Fee structure varies by trading pair and volume tier.
- Flash Trade / OTC Trading: All-in price execution for OTC trades with no additional fees charged by OSL. Revenue derived from spread embedded in quoted prices.
- Custody Services: Cold wallet custody with insurance and compliance-ready infrastructure for institutional clients. Monthly account maintenance is exempt.
- Enterprise Payments (BizPay/Pay): Payment rails and settlement infrastructure for businesses, providing lower fees and faster execution for enterprise clients.
- Stablecoin Issuance (USDGO): Enterprise stablecoin for institutional settlement and corporate payments, leveraging regulated reserves.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Flash Trade: All-in price execution |
| Transaction based/ take rate | Pay-as-you-go | OTC Trade: All-in price execution |
| Transaction based/ take rate | Pay-as-you-go | Pro Trade: Maker/Taker fee structure |
| Other | Monthly | Custody Services: Monthly account maintenance exempt |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
OSL product offering
Product offeringCore offering
OSL operates a regulated digital asset platform offering cryptocurrency trading (spot and derivatives), fiat on/off-ramps, institutional cold wallet custody, OTC execution, and enterprise payment infrastructure. It also issues the USDGO regulated enterprise stablecoin and provides tokenization services through its Tokenworks platform, serving both individual investors and institutional clients across 10+ regions.
Product overview
OSL is a regulated digital asset platform offering a comprehensive suite of products organized around three core areas: trading (OSL Global exchange with Flash Trade for instant retail conversions, Pro Trade for institutional spot trading, and OSL Futures for derivatives), business infrastructure (OSL BizPay for payments, OSL Pay for merchant services, OTC & Execution for large trades, Omnibus Pro for unified accounts, and Tokenworks for tokenization), and stablecoin services (USDGO enterprise stablecoin, StableHub, and StableX). The platform integrates with Banxa for fiat on/off-ramps and provides custody, earn, and recurring buy features for wealth management. OSL positions itself as an institutional-grade, compliance-first digital asset ecosystem spanning over 10+ regions with 50+ licenses.
Differentiator
Problem solved
Functional benefit
Brands
- USDGO: Enterprise-grade U.S. dollar stablecoin, fully regulated with fiat reserves, high liquidity, 1:1 USD-pegged, designed for institutional settlement and cross-border business transactions.
- OSL BizPay
- OSL Pay
- Tokenworks
- StableX
- MirrorEX
Products and services
- OSL Global Flagship regulated cryptocurrency exchange platform providing trading, payments, and custody services for individuals and institutions across 10+ regions.
- Flash Trade Instant cryptocurrency conversion feature with zero slippage, zero commission fees, one-click swaps, and 24/7 deep liquidity for retail users.
- Pro Trade High-performance spot trading platform for advanced investors featuring a high-speed matching engine, institutional-grade APIs, and advanced charting tools.
- OSL Futures Derivatives trading platform offering perpetual futures with institutional-grade features and USDC settlement.
- OSL BizPay Regulated white-label business payment solution enabling enterprises to send, receive, and convert funds with lower fees and faster execution, with local rails and global liquidity.
- OSL Pay Payment service for merchants and individuals to accept and process cryptocurrency payments.
- USDGO Enterprise-grade U.S. dollar stablecoin issued by Anchorage Digital Bank N.A., 1:1 backed by U.S. Treasuries and high-quality liquid assets, designed for institutional settlement, corporate payments, and cross-border business transactions.
- Custody Cold wallet custody service with 24/7 operations, insured with up to $1 billion coverage, compliance-ready, and customizable multi-asset custody solutions for institutions.
- Omnibus Pro Unified account system with multi-tier account structures for efficient asset segregation and seamless asset flows, providing native interoperability across asset types for unified execution and settlement.
- Tokenworks End-to-end tokenization infrastructure providing asset tokenization solutions with institutional-grade custodial infrastructure and global distribution and liquidity network.
- OTC & Execution Solutions Over-the-counter trading service for executing large trades with deep liquidity and minimal slippage across crypto and fiat, with expert desk support for precise pricing.
- StableHub Stablecoin trading hub enabling users to trade stablecoin pairs with deep liquidity.
- StableX Enterprise stablecoin solutions platform for stablecoin issuance and management.
- MirrorEX Digital asset exchange platform for mirror trading or exchange services.
- Recurring Buy Dollar-cost averaging feature allowing users to automate regular cryptocurrency purchases.
- Earn
Quantifiable outcome
- US$50 million initial minting of USDGO stablecoin
- +2 more outcomes
Companies that use OSL
Customer profileNamed customers2 records
Segments7 records
Ideal customer profiles4 records
OSL technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature6 records
OSL partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered minor and core.
- Grayscale InvestmentsminorOSL was added as a Constituent Trading Platform for the calculation of the CoinDesk Litecoin Benchmark Rate, which is used by the Grayscale Litecoin Trust. No existing constituent trading platforms were removed as a result of this review.
- McLaren RacingminorOSL sponsors McLaren Formula 1 team as part of crypto exchange sports sponsorship trend, gaining brand visibility through motorsport partnerships accessible to 1.5 billion annual viewers.
- SoFi Securities (Hong Kong)coreSoFi Securities (Hong Kong) partnered with OSL to offer digital asset trading to Hong Kong investors. OSL provides trade execution, custody, and wallet management through its Hong Kong-licensed subsidiary, OSL Digital Securities Limited. The service integrates digital asset trading alongside US equities, Hong Kong equities, and robo-advisory services within the SoFi Hong Kong app.
- Anchorage Digital Bank N.A.coreAnchorage Digital Bank N.A. serves as the issuing bank for USDGO enterprise stablecoin. USDGO is 1:1 backed by high-quality liquid assets including U.S. Treasuries and designed to meet GENIUS Act standards.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
OSL competitors and assessment
Company assessmentDirect peers
- HashKey Exchange: Hong Kong-headquartered, SFC-licensed digital asset exchange serving institutional and retail clients with spot trading and custody. Closest direct peer given shared HK regulatory positioning, institutional focus, and licensed trading/custody product overlap.
- Kraken: Regulated crypto exchange offering spot, futures, staking and institutional OTC/trading with custody. Comparable on regulated spot+derivatives trading and institutional OTC desk to OSL's Pro Trade and OTC offerings.
- Crypto.com: Globally licensed crypto exchange, payments, and card platform serving retail and institutions. Comparable breadth across trading, stablecoin rails, payments, and merchant processing mirrors OSL's Pro Trade + BizPay/Pay + stablecoin stack.
- Bullish: Institutional-focused digital asset exchange with derivatives and spot liquidity. Direct comparable on regulated institutional trading infrastructure, advanced matching engine, and API access similar to OSL's Pro Trade offering.
- B2C2: Institutional crypto OTC liquidity provider and electronic trading firm. Direct comparable to OSL's OTC & Execution Solutions desk serving institutional block trading with minimal slippage.
- FalconX: Institutional digital asset brokerage offering OTC trading, derivatives, and custody for institutional clients. Comparable institutional OTC execution focus and custody infrastructure to OSL's OTC desk and cold-wallet custody for institutions.
Broad incumbents
- Coinbase: US-listed, licensed crypto exchange offering spot, derivatives, custody and staking for institutions and consumers globally. Broader incumbent with overlapping institutional trading, custody, and stablecoin/payments adjacencies, but operating at materially greater scale and geography.
- Galaxy Digital: Public, full-service digital asset financial services firm spanning trading, asset management and mining/infrastructure. Overlaps with OSL's institutional trading, OTC, and digital-asset treasury offerings rather than retail exchange.
- Circle: USDC issuer and regulated stablecoin infrastructure provider with broader transaction-network reach. Comparable to OSL's USDGO enterprise stablecoin and StableX/StableHub stablecoin-issuance and distribution ambitions.
Emerging players
- Paxos: Regulated digital asset infrastructure firm issuing regulated stablecoins (e.g., PayPal USD) and offering custody/tokenization. Comparable on the regulated stablecoin issuance and tokenization tracks where OSL's USDGO and Tokenworks operate.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
OSL social profiles
Digital presenceOSL compliance and trust
Trust signalCompliance11 records
OSL financial estimates
Financial estimateRevenue estimate
Valuation estimate
OSL leadership team
Management profileNumber of profiles
Profiles4 records
OSL subsidiaries and ownership
Company hierarchySubsidiaries1 record
OSL funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OSL M&A and investment
M&A and investmentM&A1 record
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OSL
What does OSL do?
OSL operates a regulated digital asset platform offering cryptocurrency trading (spot and derivatives), fiat on/off-ramps, institutional cold wallet custody, OTC execution, and enterprise payment infrastructure. It also issues the USDGO regulated enterprise stablecoin and provides tokenization services through its Tokenworks platform, serving both individual investors and institutional clients across 10+ regions.
Is OSL a public or private company?
OSL is a public company. It is classified as public and is currently operating.
When was OSL founded?
OSL was founded in 2018. It employs 101 to 250 people.
Where is OSL based?
OSL is headquartered in Hong Kong, Hong Kong SAR China, in the Asia region.
How does OSL make money?
Five revenue lines are on record. Trading Fees (Pro Trade) is the primary driver. The others are flash Trade / OTC Trading, custody Services, enterprise Payments (BizPay/Pay) and stablecoin Issuance (USDGO).
Who are OSL's main competitors?
Direct peers on record are HashKey Exchange, Kraken, Crypto.com, Bullish, B2C2 and FalconX. Broad incumbents are Coinbase, Galaxy Digital and Circle. Paxos is listed as an emerging player.
Does OSL have an API?
Yes. OSL offers a public-facing API for integrating with its trading platform, providing access to Pro Trade (spot trading) and Futures trading capabilities. The API documentation is available at https://docs.glb.osl.com/reference/overview-osl-global-api. Developer documentation is at docs.glb.osl.com/reference/overview-osl-global-api.
What industry is OSL in?
OSL's product category is Regulated Digital Asset Exchange. Its primary akta.pro industry code is FSAFANAO, Digital Asset/Crypto Trade Execution Platforms, with a secondary code of FSAPADAH, OTC Desks & Block Trading Networks. Its NAICS code is 5231 and its SIC code is 6200.