PANews reported on April 29 that Hong Kong-listed company OSL Group announced the launch of a new business unit, OSL Pay, aimed at innovating cross-border fiat currency and cryptocurrency payment infrastructure.

The first stop will be in Italy, where it will build operational capabilities using existing OAM registrations, and is expected to be officially launched in the second quarter. Zhang Jingwei has been appointed as the head of OSL Pay, who has extensive experience in fintech and digital transformation and will drive OSL Pay to become an important bridge between traditional finance and the crypto economy.

Cui Song, executive director and CEO of OSL Group, said that OSL Pay combines the advantages of blockchain technology and traditional finance to achieve instant and reliable cross-border capital flow.