Circle and OSL Expand USDC Access Across Asia

Circle and Hong Kong-listed OSL Group announced on April 22 an expansion of USDC access across OSL’s trading, payments and settlement systems in Asia. The agreement allows eligible clients to convert U.S. dollars and USDC at a one-to-one rate, trade in a dedicated USDC zone and use USDC for settlement and payments.

Under the integration, OSL Global clients can trade USDC pairs against bitcoin, ether, Solana, USD and USDT within the dedicated trading zone. OSL will also support USDC as a unified margin asset on the platform to improve capital efficiency and trading flexibility.

Eligible participants can request access to Circle’s USYC tokenized money market fund, subject to compliance checks and platform eligibility. The expanded rails will support conversions, margining and settlement activity across OSL’s trading and payments ecosystem in Hong Kong and the wider region.

Eugene Cheung, OSL Group chief commercial officer, described the partnership as aligning with the firm’s efforts to link stablecoins, fiat currencies and other digital assets within market infrastructure. Kash Razzaghi, Circle’s chief business officer, said institutions need reliable infrastructure to move value in real time and that the collaboration strengthens digital dollar liquidity in Hong Kong and beyond.

Circle says USDC is backed by reserves held in regulated U.S. entities. The Circle Reserve Fund is overseen by BlackRock and BNY Mellon handles custody functions for the reserves. Circle has integrated USDC with payment networks including Visa and Mastercard and has commercial arrangements that extend USDC access through platforms in Latin America and Southeast Asia.

OSL is listed on the Hong Kong Exchange (HKEX: 863) and Circle trades on the New York Stock Exchange (NYSE: CRCL). The partners said participation in USDC-based services on OSL will be subject to standard compliance procedures and platform eligibility requirements.