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According to The Block, OSL Group has announced a partnership with Circle’s affiliated entities to expand USDC integration across its payment and trading platforms. Through OSL Global, users can exchange USD for USDC at a 1:1 ratio and trade BTC, ETH, SOL, USD, and USDT pairs in a dedicated USDC trading zone. Meanwhile, OSL has adopted USDC as its unified margin asset and integrated USDC into its payment services to support compliant digital dollar settlement and payment use cases. OSL also stated that it plans to support Circle’s tokenized money market fund, USYC, subject to regulatory requirements and platform eligibility criteria.
According to Caixin, applications for the second batch of Hong Kong-compliant stablecoin licenses are underway. Reliable sources revealed that Futu Securities and OSL Group are among the contenders for the second batch of licenses. However, in November last year, China’s People’s Bank of China and 12 other ministries reiterated their stance on cracking down on virtual currency trading within mainland China and classified stablecoins as virtual currencies—meaning stablecoin trading will not be permitted in mainland China.