Key Takeaways:
Hong Kong-based OSL Group (HKEX: 863) and Circle Internet Group, Inc. (NYSE: CRCL) announced a partnership on April 22 to expand access to the USDC stablecoin across OSL's trading and payment platforms, introducing five new trading pairs to meet growing demand for cross-border settlement in Asia.
"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," Kash Razzaghi, Chief Business Officer of Circle, said. "This collaboration reflects our shared commitment to building open financial rails that support capital efficiency, innovation, and long-term market growth."
Under the partnership, OSL's international platform, OSL Global, will offer 1:1 conversions between USD and USDC and a dedicated "Pro Trading" zone featuring five major pairs: BTC, ETH, SOL, USD, and USDT. The firm has also integrated USDC as a unified margin asset to improve capital efficiency for its clients. With USDC's circulating supply reaching $75.3 billion and holding a 28 percent share of the stablecoin market at the end of fiscal 2025, according to a Coin Metrics report, the integration provides OSL's institutional clients with a significant pool of digital dollar liquidity.
The partnership comes at a critical time for Circle, which is seeking to diversify its revenue streams beyond the interest earned on its reserves. The company's fiscal 2025 revenue of approximately $2.7 billion was composed of 96 percent reserve income, a figure highly sensitive to interest rate fluctuations. Expanding USDC's utility in global payments and trading through partners like OSL is key to growing its usage-driven revenue, especially as a crucial revenue-sharing agreement with Coinbase is set for renewal in August 2026.
"This partnership with Circle underscores OSL Group's commitment to building a vibrant stablecoin ecosystem," said Eugene Cheung, Chief Commercial Officer of OSL Group. He added that the collaboration aligns with OSL's goal to build "the next generation of financial market infrastructure connecting stablecoins, fiat currencies and other digital assets to enable the seamless exchange of value." OSL will also support access to Circle's USYC, a tokenized money market fund, subject to regulatory requirements.
This article is for informational purposes only and does not constitute investment advice.
