Key Takeaways
HashKey Settlement Platform and ONERWAY partnered to connect on-chain stablecoins with licensed fiat off-ramping.
According to BlockchainReporter, the HashKey Settlement Platform (HSP) and cross-border payment provider ONERWAY formed a strategic partnership to connect on-chain stablecoin settlement with licensed fiat off-ramping. Announced in a joint statement, the tie-up marks the first time HSP has linked with a traditional Web2 payment institution and the first on-chain settlement protocol adopted by ONERWAY.
ONERWAY serves over 2,000 merchants globally and holds payment licences across the UK, Europe, Hong Kong, the United States, and Singapore. HSP consists of a Master Account for aggregating and distributing funds and a Settlement Protocol for transaction-authorisation verification. HashKey Group's licensed entities provide custody and over-the-counter services, enabling ONERWAY merchants to convert settled stablecoin proceeds into local fiat through ONERWAY's channels.
Both organizations utilized regulated infrastructure, with HashKey holding digital-asset service licences in Hong Kong and HSP integrating anti-money-laundering controls. Officials from both companies stated that the collaboration aims to enhance capital turnover and reduce operational costs for merchants in cross-border commerce.
Source & Fact-Check Note
This report is synthesized from coverage by BlockchainReporter. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at BlockchainReporter ↗
