PANews reported on June 16 that OSL Group (HKEX:863), a global stablecoin payment and trading platform, announced today that the circulating scale of its compliant enterprise-grade stablecoin USDGO has exceeded $500 million. It has also built a diversified ecosystem encompassing reserves, payments, trading, and infrastructure to meet the real economy's needs for cross-border payments, fiat currency deposits and withdrawals, and institutional fund transfers. This provides technical and operational support for handling higher-frequency and larger-volume payments, clearing, and fund transfers.

Following BlackRock's BUIDL and Goldman Sachs' STBXX, JPMorgan Chase's tokenized fund JLTXX has recently become the latest source of reserve assets for USDGO. USDGO is pegged 1:1 to the US dollar and is backed by ample reserves of high-quality liquid assets such as cash and short-term US Treasury bonds. Anchorage Digital Bank NA, the first federally regulated crypto bank in the United States, is the issuer, and OSL is its brand operator and distributor.

Jason Liu, Head of Stablecoin Business at OSL Group, said, “Reaching a circulating supply of $500 million is a significant milestone in USDGO’s development. For an enterprise-grade compliant stablecoin, ample liquidity lays a solid foundation for expanding its commercial applications. By building a diversified ecosystem, USDGO will continue to work with partners to improve the global payment network, further unlock the value of compliant enterprise stablecoins in the real economy, and meet the strong demands of the market and customers.”