OSL's Strategic Initiative to Invest Up to US$30 Million to Boost Development of PayFi Ecosystem
(Hong Kong, 5 December 2024) - OSL Group Limited (863.HK), a Hong Kong publicly listed company fully dedicated to digital assets ("OSL"), today announced a strategic initiative to collaborate with industry partners to invest up to US$30 million to accelerate growth of the PayFi ecosystem globally.
Emerging as a crucial component of Web3, PayFi is integral to OSL's strategic development. The proposed investments will focus on fostering partnerships and supporting projects related to payment products and services involving cryptocurrencies and stablecoins. Through engagement with various industry partners, including card issuers, lending platforms, and payment and digital wallet service providers, OSL aims to enhance the entire PayFi ecosystem.
The integration of PayFi with regulated digital asset platforms is essential for the sector's growth, providing a robust infrastructure that ensures regulatory compliance and seamless fiat settlement. This integration also promotes technological advancement and encourages the innovation of new financial products, further driving the adoption and evolution of PayFi. With strong connections to banks and deep liquidity, OSL is well-positioned to bridge the gap between traditional finance and the Web3 ecosystem, facilitating efficient cross-border payments and asset transfers in the regulated space.
Guoliang Hao, Chief Business Officer of OSL, stated: "As a regulated digital asset platform, OSL has a lot to offer in the advancement of PayFi, providing a compliant and secure platform to support different PayFi transactions and fiat settlements. PayFi is central to our strategic roadmap, and we will leverage our strengths to fully support its development and unlock its full potential. We are also proactively seeking partners and welcome any interested parties to collaborate with us."
This investment underscores OSL's commitment to the development of PayFi Ecosystem, aligning with its vision of enabling trusted access to digital assets for individuals and businesses alike.
About OSL
Backed by Asia’s leading public fintech and digital asset company, OSL Group (863.HK), formerly BC Technology Group, OSL is the world’s first SFC-licensed and insured digital asset platform. Founded in 2018, OSL has an established history in the sector and is recognised by many as the leader in providing comprehensive regulated and licensed digital asset solutions.
OSL offers Markets services (brokerage, exchange, and custody) and SaaS technology solutions, which deliver institutional clients in addition to professional and retail investors access to global liquidity through its best-in-class digital asset platform. OSL’s secured and insured hot and cold wallet infrastructure also ensures the safekeeping of digital assets with timely transaction settlements.
As the digital asset industry continues to evolve, so does OSL. OSL’s simple and tailored approach compliantly navigates international clients through the evolving digital assets environment.
For more information, visit: osl.com
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