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Stablecoin infrastructure providers are increasing institutional access to digital dollar liquidity as cross-border settlement demand continues to rise. On April 22, Hong Kong-listed OSL Group (HKEX: 863) and Circle Internet Group (NYSE: CRCL) announced a partnership to expand access to USDC across OSL’s trading and payments ecosystem, supporting conversions, margin usage, and settlement activity.
OSL Global said clients can convert USD and USDC on a 1:1 basis and that the platform offers a dedicated USDC trading zone with pairs against BTC, ETH, SOL, USD, and USDT. The integration is also intended to enable stablecoin-based settlement and payment flows within the platform.
OSL Group Chief Commercial Officer Eugene Cheung said:
"This partnership with Circle underscores OSL Group’s commitment to building a vibrant stablecoin ecosystem, and aligns with our endeavour to build the next generation of financial market infrastructure connecting stablecoins, fiat currencies and other digital assets to enable the seamless exchange of value."
The arrangement provides eligible participants with access to Circle’s USYC, described as a tokenized money market fund, subject to compliance requirements and platform criteria. OSL also said it uses USDC as a unified margin asset, a structure designed to enhance capital efficiency and trading flexibility.
Outside the OSL partnership, USDC has expanded its reach through collaborations spanning financial institutions and payment networks. The stablecoin is supported by reserves held within regulated U.S. entities, with BlackRock overseeing the Circle Reserve Fund and BNY Mellon handling custody functions.
The article also notes that integrations with Visa and Mastercard place USDC within global payment rails. Agreements with Mercado Pago and Grab are cited as extending USDC access to users across Latin America and Southeast Asia for everyday financial use.
The partnership is presented as part of a broader shift toward embedding stablecoins within regulated financial infrastructure rather than limiting usage to trading activity. Circle Chief Business Officer Kash Razzaghi said:
"As digital asset markets mature, institutions are looking for trusted, transparent infrastructure to move value globally and in real time. By working with OSL to expand access to USDC across trading and payments, we’re reinforcing a foundation for digital dollar liquidity in Hong Kong and beyond."
Razzaghi added that the collaboration supports capital efficiency, innovation, and long-term market growth.
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