OSL Brings Compliant USDC Liquidity to Asia
OSL combines its regulated network with Circle’s USDC to give institutional and enterprise clients a single, compliant home for digital dollar liquidity, reaching $200 million2 in USDC deposits within months.”
Across the Asia-Pacific region (APAC), enterprises and institutions with cross-border operations are looking to incorporate dollar-denominated stablecoins such as USDC1 into payment flows without adding counterparties, further fragmenting liquidity, or increasing compliance risk. Many still piece together offshore trading venues, some of which may be unregulated, with separate payment rails to access USDC, even when their treasury and settlement operations — or their counterparties — already use USDC.
OSL is built for that exact need. Based in Hong Kong, the company operates a global stablecoin payment and trading platform spanning exchange infrastructure, custody, payments, treasury, and embedded stablecoin services — providing regulated services through locally licensed entities. With OSL reporting more than 50 regulatory licenses across Asia, Australia, the US, Canada, and Europe, the company had already built a money movement foundation designed to meet local regulatory requirements.
What OSL still needed was a compliant way to meet growing institutional demand to access, hold, and settle in USDC — which it considers the benchmark regulated1 internet-native dollar — without clients needing to split custody, settlement, and on/offramp activity across multiple counterparties.
From fragmented to unified USDC access
Working directly with Circle gave OSL a way to meet that demand inside StableHub, a one-stop multi-stablecoin and USD exchange hub that aggregates liquidity across supported stablecoins.
USDC was among the first stablecoins supported, allowing eligible clients to exchange USDC and USD on a 1:1 basis, subject to applicable limits. Instead of routing clients through multiple venues to source liquidity, eligible clients can consolidate USDC access, exchange, custody, and settlement through OSL.
Circle also worked with OSL beyond the mechanics of incorporating USDC into StableHub. The collaboration included technical support and strategic input around foreign exchange, custody, and cross-border payments. That broader partnership helped OSL envision how StableHub could become more than a trading venue; it could function as a stablecoin distribution and settlement hub.
Circle brought both technical support and strategic input to the USDC integration, including work with us on cross-border payment solutions. With StableHub, we gave clients a single channel to access USDC.”
Converting USDC demand into regulated activity
StableHub reached $200 million2 in USDC deposits within approximately four months of launch. For a regulated platform serving APAC businesses, that growth milestone is proof that compliant stablecoin demand was already waiting for a licensed home.
OSL clients can now access dollar-denominated liquidity through one platform, with USDC integrated into OSL’s payments and trading operations. StableHub also shifted the operational burden. Instead of managing fragmented liquidity routes, OSL can consolidate USDC activity within StableHub and connect clients to adjacent offerings, including USDC-based margin for eligible OSL clients.
Circle’s USDC is now a core pillar of our platform, providing benchmark dollar liquidity across trading and payments.”
Looking ahead, OSL expects Circle to remain central to its platform strategy. More broadly, OSL views StableHub as a model for how regulated distribution, liquidity, and settlement can be combined into a single compliant counterparty for APAC’s burgeoning digital dollar market.
An APAC blueprint for regulated stablecoin distribution
For OSL, the value of its partnership with Circle is clear. USDC gives the company a highly liquid and regulated1 stablecoin that matches customer demand, while Circle’s support helps OSL meet that demand through the StableHub platform.
OSL’s sizable early result — more than $200 million in USDC deposits within approximately four months of launch — is a concrete proof point for the broader model: in APAC, compliant access and deep liquidity can turn institutional stablecoin demand into meaningful commercial activity.
Note: Circle has a commercial relationship with OSL Group.
¹ USDC is issued by regulated affiliates of Circle. See Circle's list of regulatory authorizations.
2 All numbers provided by OSL Group as of August 17, 2026.
3 Subject to applicable limits.
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