OSL's Digital Asset Trading and Blockchain Platform Business Soar, Interim Revenue Reaches HK$123.8 Million in 1H2024
(Hong Kong, 16 August 2024) - OSL Group (863.HK), Hong Kong's only publicly listed company fully dedicated to digital assets, today announced its interim results for the six months ended June 30, 2024. The Group's interim results reveal a significant boost in digital assets and blockchain platform business, with IFRS income skyrocketing by 17.7% year-over-year (YoY). This impressive growth, coupled with a 90.2% reduction of losses from continuing operations, demonstrates the success of the Company’s drive towards long term revenue growth and operational efficiency.
"Despite market volatility and macroeconomic uncertainties, OSL has continued to maintain a strong performance in our digital asset trading and blockchain platform businesses," said Patrick Pan, Chairman of the Board at OSL. "Not only have we stood our ground, we've once again demonstrated our strength and resilience."
Key highlights for the period include:
Digital assets and blockchain platform business Group’s IFRS income was HK$123.8 million, up HK$18.6 million on YoY from HK$105.2 million.
Operating performance improved significantly, with a 90.2% reduction in loss from continuing operations.
OSL: Driving Digital Asset Growth in 1H2024
Entrusted as the virtual asset trading platform and sub-custodian for both ChinaAMC's and Harvest Global’s inaugural spot BTC/ETH ETFs.
Inclusion in the MSCI Hong Kong Index* reflecting OSL's substantial growth and pivotal role in global financial markets.
Two esteemed awards – "Best Digital Assets Service Provider" at the 2024 HFM Asia Services Awards and the "Best Investment & Wealth Management - Virtual Asset Trading Platform" award from Metro Finance – acknowledging its excellence in the digital asset space.
First AMLO Licence granted by the SFC, demonstrating its commitment to regulatory compliance and enhancing the security and credibility of the digital asset market.
"Looking ahead, we remain focused on expanding our product offerings, enhancing customer experience, and exploring new business opportunities in the blockchain space," added Kevin Cui, Group CEO at OSL. "We are confident that our long-term strategy will continue to drive growth and value for our shareholders."
*Under MSCI Global Small Cap Index
About OSL
Backed by Asia’s leading public fintech and digital asset company, OSL Group (863.HK), formerly BC Technology Group, OSL is the world’s first SFC-licensed and insured digital asset platform. Founded in 2018, OSL has an established history in the sector and is recognised by many as the leader in providing comprehensive regulated and licensed digital asset solutions.
OSL offers Markets services (brokerage, exchange, and custody) and SaaS technology solutions, which deliver institutional clients in addition to professional and retail investors access to global liquidity through its best-in-class digital asset platform. OSL’s secured and insured hot and cold wallet infrastructure also ensures the safekeeping of digital assets with timely transaction settlements.
As the digital asset industry continues to evolve, so does OSL. OSL’s simple and tailored approach compliantly navigates international clients through the evolving digital assets environment.
For more information, visit: osl.com
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