Banking Circle expands OSL stablecoin payments with five currencies
Institutional clients of OSL Group can now use Australian, British, Hong Kong, Singapore, and US dollars for transactions, alongside existing euro support, through Banking Circle's infrastructure.
OSL clients gain new currency options
Banking Circle has broadened its partnership with OSL Group, enabling OSL's institutional clients to settle transactions in five additional fiat currencies. These include the Australian dollar, British pound, Hong Kong dollar, Singapore dollar, and US dollar.
This expansion builds on existing support for the euro, allowing for a wider range of stablecoin and fiat payment options across OSL's platforms.
Infrastructure for instant payments
The expanded arrangement sees Banking Circle supply the core infrastructure for fiat settlement, cryptocurrency conversion, and liquidity management across OSL's business platforms. OSL will also incorporate Banking Circle’s BC-Now instant payment network.
This integration allows institutional clients to conduct round-the-clock fund reception, conversion, and settlement through a unified platform, potentially streamlining their financial operations and reducing the need for multiple banking relationships.
Industry leaders on market demand
Eugene Cheung, Chief Commercial Officer at OSL Group, noted the increasing demand from businesses to move between fiat and stablecoins. He emphasised the need for regulated, scalable, and globally connected infrastructure to support this shift.
Kirit Bhatia, Chief Digital Assets Officer at Banking Circle, highlighted the evolution of digital asset firms beyond trading into practical payment applications, underscoring the significance of this partnership in meeting client needs.
Regulatory context and Asian impact
This expansion follows OSL's Austrian subsidiary, OSL EU, securing authorisation as a Crypto-Asset Service Provider from Austria’s Financial Market Authority under the European Union’s Markets in Crypto-Assets Regulation (MiCA).
For Asian institutional clients, the added support for Hong Kong and Singapore dollars, alongside major global currencies, provides greater flexibility and efficiency in cross-border digital asset transactions, reducing the complexity of managing multiple banking relationships across varied markets.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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