Citi Initiates Coverage of OSL with Strong Growth Projections
- Citi assigned a buy/high risk rating to OSL with a target price of HKD 21.80 ($2.80).
- Projected revenue growth for OSL is expected at 80%, 60%, and 36% for the years following.
- OSL holds over a 60% share in Hong Kong’s OTC crypto market.
- The firm has more than 50 licenses across ten jurisdictions, with plans to expand into Europe and the Middle East.
- Upcoming launches include OSL BizPay for cross-border payments and StableX for stablecoin issuance.
Citi’s analysis emphasizes OSL’s regulatory-first strategy as a key strength, positioning it well amid increasing institutional adoption of cryptocurrencies and related products. Despite risks from volatility and competition, OSL’s compliance-first approach is noted as advantageous in the growing digital-asset sector.
The stock closed at HKD 16.89 ($2.17), reflecting a 0.4% decline in trading, while the firm previously raised $300 million in equity financing to support its expansion efforts.(Source)
