Banking Circle expands OSL stablecoin-to-fiat settlement across AUD, EUR, GBP, HKD, SGD and USD

Banking Circle S.A. has expanded its collaboration with OSL Group (HKEX: 863) to support OSL’s stablecoin payment and trading business with multi-currency payment rails across five additional currencies. For high-risk PSPs and crypto businesses, the point is simple: regulated fiat connectivity is still what turns “we can move stablecoins” into “we can actually settle money.”

1. Banking Circle now supports OSL across six currencies: AUD, EUR, GBP, HKD, SGD and USD. The expansion is tied to OSL’s B2B business growth into new markets, with Banking Circle providing the infrastructure for fiat settlement, crypto conversion and liquidity management across OSL’s business platforms.
2. Through Banking Circle’s 24/7 instant payment network BC-Now, OSL says institutional clients can receive, convert and settle funds globally 365 days a year through a single compliant platform. The practical selling point here is fewer banking relationships to juggle across different jurisdictions, which is exactly the kind of operational friction high-risk merchants and PSPs know too well.
3. The announcement lands as regulatory frameworks for digital assets become clearer, with MiCAR in Europe and the GENIUS Act in the U.S. cited as drivers of institutional adoption. OSL’s European subsidiary, OSL EU, was recently authorized as a Crypto-Asset Service Provider (CASP) by the Austrian Financial Market Authority (FMA) under MiCAR.
4. OSL said the expansion strengthens its ability to support clients moving between fiat and stablecoins for payments, settlement and compliant on- and off-ramp capabilities. Eugene Cheung, Chief Commercial Officer at OSL Group, said the next phase of digital asset adoption will be driven by real-world payment use cases and that businesses need infrastructure that is regulated, scalable and internationally connected.
5. Kirit Bhatia, Chief Digital Assets Officer at Banking Circle, said the expansion shows digital asset firms are moving beyond trading into real payment use cases. In other words, the infrastructure conversation is shifting from price discovery to money movement, which is usually where the harder operational and compliance work starts.

Banking Circle describes itself as combining global reach, real-time capability and the credibility of a licensed bank in one interoperable platform. For institutions handling stablecoin-to-fiat flows, that combination matters because the whole model depends on reliable settlement, not just the ability to buy and sell assets.