HONG KONG, Sept. 3, 2026 /PRNewswire/ — HashKey On-Chain’s settlement protocol, HSP, and cross-border payment service provider ONERWAY have announced a strategic partnership. ONERWAY is a traditional Web2 payment institution holding multiple licenses across the UK, Europe, Hong Kong, the US, and Singapore. It is currently serving over 2,000 merchants globally and possessing deep compliance infrastructure in cross-border acquiring and fiat liquidation. This partnership marks the first time HSP has strategically connected with a Web2 payment institution, and HSP is also the first Web3 on-chain settlement protocol introduced by ONERWAY. Together, they establish a seamless channel that connects digital currency settlement with fiat off-ramping capabilities for enterprise clients.
This partnership introduces the first Web3 digital currency settlement protocol to ONERWAY that provides merchants with new choices for digital currency settlement while retaining its fiat settlement advantages—backed by its multiple payment licenses, including UK EMI, European PI, Hong Kong MSO, US MSB, and Singapore MPI, as well as principal membership qualifications with major credit cards such as Visa, Mastercard, UnionPay International, and Discover, and PCI DSS Level 1 security certification. For HSP, ONERWAY is the first traditional Web2 payment partner. Through strategic integration with a licensed payment institution, HSP extends its on-chain settlement capabilities to ONERWAY’s existing network of over 2,000 merchants spanning multiple vertical sectors including cross-border e-commerce, gaming and entertainment, digital content subscriptions, and SaaS, achieving a shift from the protocol layer to real-world commercial scenarios.
The “Core Capabilities” of Cross-Border Settlement
Problems in cross-border payments have persisted for a long time such as long settlement cycles, exchange losses, and complex multi-currency accounting. For cross-border e-commerce and digital service enterprises, these issues directly impact operational efficiency and cash flow turnover.
Stablecoins offer a potential path to a solution—on-chain settlement is near-real-time while cross-border flows require few to no intermediaries, and exchange rate risks can be controlled through lock-up mechanisms. However, the issue for most merchants is how to convert funds into local fiat currency that can be used to pay suppliers, employee salaries, or meet tax compliance requirements after receiving stablecoins. There is a strong need to improve the utilization of on-chain assets and capital efficiency.
This partnership aims to provide a blockchain bridge. HSP is driven by two core modules: the Master Account, which handles intelligent aggregation and distribution of merchants’ on-chain funds, and the Settlement Protocol, which provides the foundation for transaction authorization verification standards to ensure that every transaction is auditable. HashKey Group’s licensed entities provide custody and OTC services, utilizing the HSP protocol as the technical pathway to connect with ONERWAY’s licensed fiat channels. After completing on-chain stablecoin settlement, ONERWAY merchants can leverage its own licensed fiat channels and the technical circulation path with HSP to convert the funds into local fiat currency, which can be used to pay suppliers or distribute employee salaries, while also facilitating merchants in meeting their own tax reporting requirements.
Compliance as pillar to Accelerate the Adoption of Stablecoin Payments
Licensed entities under HashKey Group hold relevant digital asset service licenses in Hong Kong and are among the few institutions in Asia capable of providing digital asset services within a complete regulatory framework. The HSP settlement protocol natively integrates on-chain AML mechanisms to ensure transactions are secure and auditable. Meanwhile, ONERWAY’s multi-jurisdictional licensing ensures the compliant operation of fiat channels across major markets. Both companies support the large-scale adoption of stablecoin payments with compliant infrastructure.
Over the past year, the practical adoption of stablecoins in cross-border payment has accelerated. Major markets such as Hong Kong and the European Union have progressively advanced regulatory frameworks for stablecoin issuance and payments, while enterprise clients’ acceptance of on-chain settlement has steadily risen, particularly concentrated in cross-border business scenarios with high settlement costs and cash flow pressure. At the same time, the commercialization of AI Agents is presenting new demands for payment infrastructure, where stablecoins and on-chain settlement protocols hold inherent advantages over traditional banking systems in programmable payment scenarios.
Currently, HSP is expanding collaborations with more payment companies, corporates and financial institutions, dedicated to extending HSP’s settlement capabilities to additional settlement zones and providing global enterprise clients with broader on-chain payment landing channels.
“On-chain payments inherently possess the advantages of speed, efficiency, and low cost. Guided by effective regulatory compliance, on-chain payments will usher in widespread future adoption, especially in cross-border transactions and services. As a leader in the development of the on-chain payment industry, the HSP protocol and functions we launched not only fully support on-chain settlement, but also support technical integration with traditional payment systems. This advantage has been fully demonstrated in our cooperation with ONERWAY. We hope that HashKey On-Chain’s HSP and the growth model built in cooperation with ONERWAY will enable more payment ecosystem partners to see the possibilities of future payment settlement and expand the space for future multi-modal payments.”
— Rachel Qiu, COO, HashKey On-Chain BG & BD Head, HashKey Group
“The essence of payments is trust and efficiency. We observe that an increasing number of cross-border e-commerce and digital service enterprises are seeking more flexible capital settlement methods to cope with the compliance and efficiency challenges brought by deep globalization. By joining forces, ONERWAY and HSP rely on the HSP protocol to assist merchants in achieving seamless integration of on-chain payment, digital assets and fiat currency in cross-border scenarios, significantly increasing capital turnover and reducing operational costs. Building on this joint initiative of next-generation financial infrastructure, we will continue to explore new scenarios for future payment and new challenges in agent interaction, building a more efficient, transparent, and compliant payment ecosystem.”
— Chris Hua, Head of Strategy, ONERWAY
About HashKey Settlement Platform (HSP)
The HashKey Settlement Platform (HSP) is dedicated to building a global on-chain payment infrastructure. Driven primarily by two core modules—the Master Account for global enterprises’ on-chain asset pooling, and the Settlement Protocol for establishing on-chain transaction authorization verification standards—HSP provides Payment Service Providers (PSPs), global enterprises and financial institutions with an efficient on-chain settlement network, supported by compliant custody and OTC fiat currency flows. Additionally, the platform supports an Agent Payment solution to meet the needs of AI agents and automated settlement in the future “machine economy.” Operating under financial-grade compliance and security, HSP optimizes settlement efficiency through on-chain technology, aiming to bridge traditional businesses and finance with the on-chain economy, and provide settlement support for cross-border trade, AI, and DePIN ecosystems.
About ONERWAY
ONERWAY is a global cross-border payment service provider holding multiple payment licenses including UK EMI, European PI, Hong Kong MSO, US MSB, and Singapore MPI. It possesses principal member qualifications for Visa, Mastercard, UnionPay International, and Discover, as well as PCI DSS Level 1 certification. It provides professional services such as global acquiring, multi-currency settlement, and batch payouts for cross-border e-commerce, gaming and entertainment, SaaS, and Web3 platforms, currently serving over 2,000 merchants worldwide.
Disclaimer
This material is provided solely for informational and technical purposes regarding the collaboration between HashKey Settlement Platform (HSP) and ONERWAY. It does not constitute investment, financial, legal, or tax advice, nor does it constitute an offer, solicitation, recommendation, endorsement, or guarantee of any kind.
HSP is a settlement protocol and technical framework and does not itself engage in regulated activities. ONERWAY provides fiat payment services—including fiat acquiring, multi-currency settlement, and payout services—strictly within the scope of its respective local payment licenses and jurisdictions. ONERWAY does not directly provide virtual asset (digital currency) trading, exchange, custody, or brokerage services. All virtual asset-related services referenced herein are provided independently by licensed or authorized entities under HashKey Group holding the appropriate regulatory approvals. To the extent that any business process or activity described in this material constitutes a regulated activity in any applicable jurisdiction, such activity shall be conducted solely through or in conjunction with, licensed or authorized entities that hold the necessary regulatory licenses/approvals.
On-chain settlement protocols and related technical integration activities carry inherent technical, market, and regulatory risks. Participants are solely responsible for conducting their own due diligence and ensuring compliance with applicable laws, regulations, and licensing requirements in their respective jurisdictions. ONERWAY, HSK Chain and HSP shall not be liable for any direct, indirect, incidental, or consequential losses or damages arising out of or in connection with reliance on this material or participation in any related activities.
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SOURCE HashKey Group
