Hong Kong-listed OSL Group said on Tuesday that the circulating supply of its enterprise stablecoin USDGO had surpassed $500 million, four months after its February 2026 launch.
OSL also said JPMorgan’s tokenized money market fund, JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), had been added to USDGO’s reserve assets. JLTXX sits alongside BlackRock’s BUIDL and Goldman Sachs’ STBXX in the reserve stack.
JLTXX is a government money market fund on Ethereum that invests in U.S. Treasury securities and overnight repurchase agreements. J.P. Morgan Asset Management launched it in May with a $100 million seed investment and said it was designed to satisfy eligible reserve asset requirements for stablecoin issuers under the GENIUS Act. The fund held $200.3 million in assets as of May 31.
USDGO is issued by Anchorage Digital Bank N.A., described as the first federally chartered crypto bank in the U.S., with OSL serving as brand operator and distributor. The token is pegged 1:1 to the U.S. dollar and backed by cash and short-term Treasuries, subject to third-party audits, according to OSL.
OSL said USDGO passed $100 million in circulation roughly two months after launch and is being used across cross-border payments, fiat on- and off-ramps, and institutional fund flows.
