OSL GROUP Surges Over 8% in Afternoon Trading on Inclusion in Hong Kong's First Stablecoin License List

Stock News03-13

OSL GROUP (00863) rose more than 8% in afternoon trading. As of the time of writing, the stock was up 8.4%, trading at HK$14.19, with a turnover of HK$59.0259 million. The increase follows reports that the first list of licensed stablecoin issuers in Hong Kong is expected to be announced this month. According to comprehensive information from multiple sources, three companies are likely to be included: Standard Chartered Bank, HSBC, and OSL GROUP, Hong Kong's first licensed virtual asset trading platform. The list could be released as early as next week, though it remains subject to change. Late last month, OSL GROUP announced the official launch of USDGO, an enterprise-grade compliant stablecoin, by its subsidiary OSL HK, Hong Kong's first licensed digital asset exchange. Professional investors in Hong Kong can now buy and sell USDGO through over-the-counter (OTC) transactions. Jason Liu, Head of Global Exchange Business at OSL GROUP, stated that USDGO plays a critical role in the company's strategy for compliant stablecoin trading and payments.

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