Search results for OSL Group
Crypto
Hong Kong dollar stablecoin HKDAP completes Ethereum mainnet test after regulatory approval
Anchorpoint Financial, which received a stablecoin issuance licence from the Hong Kong Monetary Authority, has completed a test transferring its Hong Kong dollar stablecoin HKDAP (HKD At Par) to the Ethereum mainnet. The test was conducted with OSL Group and LeopardTrade, a trading platform under Futu Holdings, and focused on verifying the process of converting fiat Hong Kong dollar funds into reserve assets. Standard Chartered Hong Kong provided infrastructure and institutional trust services.
Crypto
Hong Kong stablecoin licence issuance delayed as review continues
Hong Kong’s financial regulator had signalled it would issue its first stablecoin licence in the first quarter, but no applicant has been approved as of April. The Hong Kong Monetary Authority said it is continuing to process and review applications and will announce any progress, without giving a timetable. It has asked applicants to strengthen disclosures on reserve assets, anti-money laundering controls, redemption mechanisms and responses under extreme stress.
Crypto
Hong Kong\'s OSL Group raises $200 million to expand stablecoin, payment business
Hong Kong-based OSL Group raised $200 million to expand its stablecoin and digital payments business, Cointelegraph reported on Thursday. The company plans to use the funds for acquisitions, global expansion and technology development. OSL, a digital asset exchange approved by Hong Kong financial authorities, has launched the institution-focused payment platform OSL BizPay and introduced the dollar-based stablecoin USDGO. OSL also provides OTC trading, custody and tokenised asset management services.