The TON Foundation has joined forces with Banxa, a crypto payments infrastructure provider owned by OSL Group, to broaden stablecoin payment capabilities for small and medium-sized enterprises (SMEs) across the Asia-Pacific region.
Announced Tuesday, the partnership is designed to help businesses use The Open Network (TON) blockchain for faster settlement and smoother cross-border money transfers. By combining Banxa’s global fiat-to-crypto network with TON’s blockchain infrastructure, the initiative aims to make digital asset payments more practical for everyday commercial use.
Building a Bridge Between Fiat and Crypto
At the center of the collaboration is an integration that links Banxa’s licensed on- and off-ramp services with TON’s blockchain. The system will support business-to-business (B2B) settlements, consumer-to-business (C2B) payments, and cross-border transactions.
Banxa operates across Asia-Pacific, the United States, the United Kingdom, Europe, Latin America, and Africa. Through its parent company, OSL Group, the firm has expanded its footprint in regulated digital asset services, positioning itself as a bridge between traditional finance and blockchain networks.
For the TON Foundation, the partnership reflects a broader effort to turn blockchain adoption into tangible business applications. Nikola Plecas, vice president of payments at TON Foundation, said the collaboration focuses on building long-term commercial use cases for companies and developers globally.
Momentum After TON Pay Launch
The announcement follows the February 11 debut of TON Pay, a payment software development kit (SDK) that allows Telegram Mini Apps to accept Toncoin and USDT directly inside the messaging platform.
TON
Built on The Open Network, TON Pay processes transactions with average fees below $0.01 and sub-second settlement speeds. The foundation is targeting Telegram’s reported 1.1 billion monthly active users, aiming to make digital asset payments feel as seamless as sending a message.
By pairing this consumer-facing capability with Banxa’s fiat infrastructure, the TON ecosystem is extending its reach into merchant payments and cross-border business activity, particularly in Asia-Pacific markets where digital adoption is accelerating.
OSL Group’s Expansion Into Payments
The partnership also aligns with OSL Group’s broader growth strategy. The company acquired Banxa as part of its expansion into digital payments and recently strengthened its balance sheet through significant equity fundraising.
In January 2026, OSL completed a $200 million equity financing round. That followed a $300 million raise in 2025, which the firm described as the largest publicly disclosed equity financing in Asia’s digital asset sector at the time.
The fresh capital has helped OSL scale regulated infrastructure, including payment services that now connect with blockchain ecosystems like TON.
A Growing Stablecoin Opportunity in APAC
Stablecoins have increasingly been used for cross-border trade and settlement, particularly in regions where businesses face high remittance costs or currency volatility. By focusing on SMEs in Asia-Pacific, the TON Foundation and Banxa are targeting a segment that often struggles with fragmented payment systems and expensive international transfers.
If successful, the partnership could provide merchants with faster settlement, lower transaction costs, and direct access to global customers — all while operating within regulated frameworks.
For now, the collaboration marks another step in the gradual integration of blockchain technology into mainstream commerce. As digital payments continue to evolve, initiatives like this highlight how stablecoins are moving beyond crypto trading and into practical, everyday business use.
