Dongwu Securities (Hong Kong) has reiterated its 'Buy' rating for OSL Group, highlighting the company's transition from a Hong Kong digital asset trading platform to a global stablecoin payment and trading platform. In 2025, OSL Group reported an adjusted revenue of HK$534 million, marking a 150.1% increase year-over-year. The firm set a target price of HK$19.5 per share. The report emphasizes that stablecoins constituted 60% of OSL Group's trading volume in 2025, with a strategic focus on stablecoin payments, fiat on/off-ramps, and B2B cross-border settlements. Dongwu Securities notes that OSL Group's revenue growth is now driven by stablecoin payments and global connectivity rather than cryptocurrency price fluctuations. The company is enhancing its financial market infrastructure with capabilities in banking networks, global licensing, instant settlement, and liquidity, positioning itself for the stablecoin and AI era.