HashKey Partners With ONERWAY on Payments

HashKey On-Chain and ONERWAY have announced a strategic partnership focused on on-chain payments and cross-border commerce. The companies will combine stablecoin settlement with traditional fiat payment infrastructure.

HSP is HashKey On-Chain’s settlement protocol for managing and processing on-chain transactions. ONERWAY is a cross-border payment provider serving more than 2,000 merchants worldwide. The company operates licensed payment channels across several major markets.

The partnership will allow ONERWAY merchants to use stablecoins for settlement and then convert the funds into local fiat currencies. This could help businesses pay suppliers, salaries and other operating expenses while meeting local reporting requirements.

HSP uses a Master Account system to aggregate and distribute merchants’ on-chain funds, while its settlement protocol verifies and records transactions. HashKey Group’s licensed entities also provide custody and OTC services. ONERWAY will provide the fiat payment channels needed to complete the settlement process.

The companies are targeting sectors such as cross-border e-commerce, gaming, digital subscriptions and SaaS. Compliance is another part of the partnership. HSP includes on-chain AML mechanisms designed to make transactions auditable, while ONERWAY operates through payment licenses in several jurisdictions.

Image: Magnific