Article Summary

Wall Street banking giant Citi has initiated coverage of Hong Kong cryptocurrency exchange OSL with a "buy/high risk" rating, setting an ambitious target price of HK$21.80 ($2.80) per share. This represents 22 times the projected 2025 price-to-sales ratio, signaling strong confidence in OSL's growth potential within Asia's expanding digital asset market. Citi's bullish stance on OSL highlights the growing institutional adoption of cryptocurrency trading platforms in Hong Kong's regulated crypto sector. As one of the region's leading digital asset exchanges, OSL stands to benefit from increasing Bitcoin and blockchain adoption across Asia-Pacific markets. The bank's coverage reflects broader Wall Street interest in cryptocurrency infrastructure companies as DeFi and digital trading volumes continue surging globally. This significant price target suggests Citi expects substantial revenue growth for OSL, positioning the exchange as a top investment opportunity in Hong Kong's cryptocurrency ecosystem. The "high risk" designation acknowledges crypto market volatility while emphasizing OSL's potential to capitalize on institutional demand for regulated digital asset trading services in one of Asia's most important financial hubs.