OSL has launched its USDGO stablecoin.
The company is starting the year strong by announcing that their USDGO stablecoin in partnership with Anchorage Digital is now live. As the first regulated digital asset bank in the U.S., the latter will be the primary issuer and custodian for the U.S. dollar stablecoin.
OSL Group itself has several parts to its business, including BizPay (the stablecoin solutions arm) and trading services licensed in Bermuda, Japana, Hong Kong and Australia.
CEO of OSL Kevin Cui expressed:
By providing a range of services, notably corporate settlement and cross-border payments, USDGO aims to become the preferred compliant stablecoin choice for the cross-border business ecosystems of enterprises in Asia and globally, steadfastly enhancing efficiency for the global financial system and creating value for real-world applications.
USDGO has already been minted for the sum of $50M on the Solana network and aims to support businesses worldwide with payments in trade, e-commerce and entertainment. With regulations tightening in Asia, it will be interesting to see if OSL can take on market share from existing U.S. dollar stablecoins and regional actors offering local stablecoins.
OSL has a visual interactive to show flow of funds comparison, making a clear case for why stablecoins are faster and cheaper vs. traditional banking routes and processing. Notably, FX and gas fees also depend on specific stablecoin conversions and markups chosen.
