Hong Kong-based digital asset platform OSL has recorded more than $200 million in USDC deposits within roughly four months of launching StableHub, highlighting growing institutional demand for regulated dollar-denominated liquidity across Asia-Pacific (APAC).
The milestone is significant because businesses operating across APAC often face fragmented access to stablecoins, requiring multiple exchanges, custodians, and payment providers.
OSL says its regulated infrastructure, spanning trading, custody, payments, and treasury services, is designed to address that challenge by giving institutions a single compliant counterparty for digital-dollar liquidity.
Source: Circle’s X Post
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OSL and Circle Expand Regulated USDC Access
OSL developed StableHub in collaboration with Circle as a multi-stablecoin and USD exchange hub. USDC was among its first supported assets, allowing eligible customers to exchange USDC and USD on a 1:1 basis, subject to applicable limits.
USDC will be available on the platform for trading, custody, and settlement, making it unnecessary for users to engage in several fragmented liquidity channels. As Jason Liu, head of stablecoin at OSL Group, explains, Circle helped in providing expertise related to foreign exchange, custody, and cross-border payments.
However, the resulting platform is more than just a trading platform. According to OSL, StableHub could become a distribution and settlement hub for the growing digital dollar economy in the region. The fact that the total deposit has crossed $200 million is an indication of institutional demand.
USDC Expands Across APAC and Blockchain Infrastructure
The growth in OSL can be attributed to the fact that Circle is increasing USDC through banks, payment platforms, card networks, and blockchain networks. The company has taken an approach whereby it has engaged in regulated partnerships in Asia.
USDC and CCTP are now live on the Ethereum-compatible X Layer of OKX, which is the latest development by Circle. This includes support for payments, cross-chain transfers, DeFi operations, and activities involving AI.
Another distinction of native USDC is that it is different from the bridged USDC that used to exist on the X Layer, with liquidity and transfer being through CCTP.
The general market environment shows increasing use of USDC as well. Visa statistics highlighted by Circle reveal that almost 70% of stablecoin transactions were USDC in June.
What Happens Next?
However, the importance of OSL’s landmark does not lie merely in the development of one platform alone. On the institutional front, the consolidated availability of liquidity, custody, trading, and settlement can make operations easier without the need for dealing with multiple counterparts.
For OSL, the task now is to ensure that StableHub remains in a steady growth trajectory and finds its applications in uses other than depositing and trading.
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