OSL Group (HKEX: 863), a stablecoin payments and trading platform, said it has become one of the early approved distributors of HKDAP, a regulated Hong Kong dollar stablecoin issued by Hong Kong-licensed stablecoin issuer Ding Dian Financial Technology Co., Ltd. OSL will provide distribution services and liquidity support for HKDAP.
The two sides have completed the required technical preparations and have started offering the services to professional investors in the first phase of HKDAP's institutional application. Eligible clients can subscribe, redeem, exchange, trade and settle between fiat currency and HKDAP through OSL HK, the first licensed digital asset exchange in Hong Kong under the OSL umbrella. In this initial institutional phase, the two sides will prioritize tokenized funds, trade finance and cross-border payments.
Kevin Cui, executive director and chief executive officer of OSL Group, said: "Becoming an early approved distributor of HKDAP is an important step in deepening cooperation between OSL and Ding Dian Financial. Regulated stablecoins will play a key role in connecting digital assets with mainstream economic activity. We look forward to bringing richer product experiences to clients and working with Ding Dian Financial to expand the market application of HKDAP. As a pioneer in compliant digital assets worldwide, OSL will continue to work with partners to raise market awareness, expand use cases and promote the sustainable development of Hong Kong's market."