About
OSL, a Hong Kong-listed digital asset platform, partnered with Anchorage Digital to issue USDGO, a US-regulated stablecoin, extending its regulated exchange and custody business into stablecoin issuance.
Stablecoins
Key products
Chains
- Founded
- 2018
- HQ
- Hong Kong
- Stage
- Public
- Funding
- Public (SEHK: 863)
Related companies

Coinbase
Largest US crypto exchange and USDC co-issuer
Coinbase is the largest US-listed crypto exchange and a primary stablecoin trading venue. It co-founded USDC with Circle via the Centre consortium and earns a share of USDC reserve revenue, while operating Base (its L2), Coinbase Wallet, custody and on/off-ramp services. In 2026 it is positioning around stablecoins, Base, and an 'everything exchange' strategy.
Gemini
Regulated US exchange and GUSD issuer
Gemini is a regulated US crypto exchange founded by the Winklevoss twins. It issues the Gemini Dollar (GUSD), an early NYDFS-regulated fiat stablecoin, and operates custody and a crypto credit card. Gemini went public in 2025 and joined the Global Dollar Network.
Kraken
US exchange and Global Dollar Network co-founder
Kraken is a long-standing US-based crypto exchange and a co-founder of the Paxos-led Global Dollar Network, the consortium behind USDG. It offers USDG rewards of up to ~5% to holders and supports a broad range of stablecoin pairs. Kraken has expanded into equities and is a prominent regulated stablecoin venue.

Anchorage Digital
First federally chartered crypto bank; stablecoin issuer and custodian
Anchorage Digital is the only federally chartered US crypto bank, providing qualified custody plus turnkey, federally regulated infrastructure for minting, redeeming and managing stablecoin issuance. It issues USDtb (with Ethena, reserves in BlackRock's BUIDL), acquired USDM issuer Mountain Protocol, and serves as a regulated issuance partner for stablecoin programs.

Archax
FCA-regulated digital-asset exchange and tokenizer
Archax is a UK FCA-regulated digital-securities exchange, broker and custodian that tokenizes and distributes institutional funds (including money-market funds from abrdn, BlackRock and Fidelity International). It bridges traditional finance and on-chain RWA markets.

BDACS
Korean custodian behind KRW1, the first won-backed stablecoin
BDACS (Busan Digital Asset Custody Services) is a regulated South Korean digital asset custodian that launched KRW1, the country's first won-backed stablecoin, on the Avalanche blockchain. KRW1 is backed 1:1 by Korean won held in escrow at Woori Bank, with real-time API-based reserve verification. BDACS has partnered with Plume to enable Korean institutions to access tokenized real-world assets denominated in KRW1.
