HashKey and ONERWAY Bridge On-Chain Settlements with Fiat Off-Ramping
HashKey On-Chain and cross-border payment provider ONERWAY have formed a strategic partnership to enable on-chain stablecoin settlement with licensed fiat off-ramping. The tie-up, announced on September 3, marks the first time HashKey's settlement protocol has linked up with a traditional Web2 payment institution.
ONERWAY serves over 2,000 merchants globally and holds licenses in key regions, including the UK, Europe, Hong Kong, the United States, and Singapore. HSP is built around two core modules: a Master Account that aggregates and distributes merchants' on-chain funds, and a Settlement Protocol that defines transaction-authorisation verification standards.
Once a stablecoin payment settles on-chain, ONERWAY merchants can convert the proceeds into local fiat through ONERWAY's licensed channels to pay suppliers, salaries, and tax obligations. Both sides are leaning on regulated infrastructure: HashKey Group holds digital-asset service licenses in Hong Kong, while HSP natively integrates on-chain anti-money-laundering controls.