The recently concluded Hong Kong FinTech Week attracted tens of thousands of industry professionals from around the world, with over 130 peripheral events alongside the main summit, marking the largest scale in its history. During the "Finternet 2025 Asia Digital Finance Summit" held alongside the event, an exclusive interview was conducted with Cui Song, Executive Director and CEO of OSL GROUP (0863.HK).

Cui emphasized the critical role of "compliance" in the digital asset industry, stating that it has enabled the sector to transition from "fringe exploration" to a "mainstream narrative." He believes compliance is the foundation for unlocking broader market opportunities.

**Q: With over a decade in the digital asset industry, what has been the most significant change? How has OSL’s business grown?** Cui: The digital asset and blockchain industry has evolved tremendously over the past decade, moving from obscurity to mainstream recognition. The most notable shift is the growing emphasis on compliance, with the industry now proactively embracing regulatory frameworks.

Historically, the sector experienced "wild growth," with many platforms prioritizing speed over compliance, creating risks for business stability and investor protection. However, as the industry matures and traditional financial institutions enter the space, demand for digital assets has expanded. Global regulators have accelerated rule-making, and market participants increasingly recognize that compliance is essential for accessing institutional capital.

OSL GROUP has consistently prioritized compliance in its global strategy. Over nearly eight years, we’ve grown from a pioneer in Hong Kong’s digital asset space to Asia’s leading stablecoin trading and payments platform.

OSL holds over 70% of Hong Kong’s digital asset custody market. In the first half of this year, our core revenue from trading and custody reached HKD 189 million, up 187% year-on-year, while total platform trading volume surged to HKD 68.2 billion, a 200% increase. We position digital assets as secure, utility-driven financial tools—not speculative instruments.

**Q: The forum highlighted "compliance + real-world utility" as a key trend. How does OSL align with this?** Cui: This has been OSL’s core strategy since inception.

Real-world businesses, especially in cross-border trade, demand efficient, low-cost, and transparent settlement solutions. In April, we launched licensed payment services, offering compliant digital asset on/off-ramps globally.

We’re also exploring stablecoin payments. Though nascent, stablecoin transaction volume is growing ten times faster than traditional payment networks, per our joint report with Artemis. B2B payments dominate, hitting USD 6.4 billion monthly in August 2025—nearly two-thirds of stablecoin payments. The IMF reports the total digital asset market cap now exceeds USD 3.5 trillion, with stablecoins surpassing USD 230 billion.

We see growth potential in digital asset payments. Since April, we’ve secured over 50 licenses across 10+ key markets, demonstrating our commitment to compliant, real-world applications.

**Q: Hong Kong is a regulatory leader in virtual assets. How do you view its regulatory landscape, and how does OSL adapt?** Cui: Hong Kong is a global pioneer in virtual asset regulation, prioritizing investor protection. Chief Executive John Lee’s policy address reaffirmed support for fintech, including tokenization, stablecoins, and digital asset trading/custody, while emphasizing risk management.

The Stablecoin Ordinance, effective August 1, 2025, is a milestone. It establishes a licensing regime for fiat-backed stablecoins, mandates reserve adequacy, enforces AML/KYC, and focuses on systemic risk mitigation—laying a foundation for institutional trust.

In September and October, the SFC issued digital asset guidelines, requiring market participation via licensed intermediaries and endorsing compliant fund ecosystems. OSL fully complies with local regulations and supports regulatory efforts.

**Q: Any advice for investors and entrepreneurs entering Hong Kong’s digital asset space?** Cui: First, abandon speculative mentalities—focus on solving real problems and driving economic growth. Second, treat compliance as a prerequisite, not a cost. In Hong Kong’s stringent regulatory environment, proactive engagement with regulators is essential for building a sustainable industry.