Banking Circle will support OSL’s stablecoin and fiat payments across five more currencies.
The expanded partnership adds Australian dollars, British pounds, Hong Kong dollars, Singapore dollars and US dollars to the existing euro support.
Banking Circle will provide infrastructure for fiat settlement, cryptocurrency conversion and liquidity management across OSL’s business platforms.
OSL will also use Banking Circle’s BC-Now instant payment network.
This will allow institutional clients to receive, convert and settle funds around the clock through one platform.
The arrangement could reduce the need for clients to maintain separate banking relationships across different markets.
Eugene Cheung, Chief Commercial Officer at OSL Group, said,
“As businesses increasingly look to move seamlessly between fiat and stablecoins, they need infrastructure that is regulated, scalable and internationally connected.
Expanding our relationship with Banking Circle strengthens the foundation of OSL’s global businesses, enabling us to support clients across more currencies and markets through a single, trusted platform.”
Kirit Bhatia, Chief Digital Assets Officer at Banking Circle, said,
“OSL is a leading name in regulated digital assets, and this expansion shows how digital asset firms are moving beyond trading into real payment use cases.
We are proud to support OSL with the capabilities and infrastructure needed to help its clients move money across currencies, markets and rails.”
The expansion follows OSL’s recent regulatory approval in Europe.
Its Austrian subsidiary, OSL EU, was authorised as a Crypto-Asset Service Provider by Austria’s Financial Market Authority under the European Union’s Markets in Crypto-Assets Regulation.
Featured image: Edited by Fintech News Singapore, based on image by mohaiminul8080 via Magnific
