OwlTing Group (NASDAQ: OWLS) obtained a Money Transmitter License from Ohio, bringing the company's U.S. coverage to 42 states. The license extends the reach of OwlPay, the company's cross-border payment and settlement infrastructure, according to a company statement.

Ohio represents the seventh-largest state economy in the United States with a GDP of approximately $967 billion in 2025. The state hosts more than 600 aerospace facilities and over 400 defense contractors, with military and federal activity supporting an estimated 418,000 jobs and approximately $55 billion in annual economic output.

Ohio companies generated approximately $144 billion in cross-border goods trade in 2024, primarily in transportation equipment, machinery, and chemicals traded with Canada, Mexico, the European Union, and China.

"Ohio is one of the great industrial economies of the United States, built by companies that make what the world depends on and sell it across borders," said Darren Wang, Founder and CEO at OwlTing Group. "The supply chains behind aerospace, defense, and advanced manufacturing never stop moving, and the money behind them should move just as freely."

OwlPay currently processes transactions with 45 percent settling within the United States and 40 percent settling cross-border across 21 foreign markets. The largest corridors run to China, Hong Kong, the United Arab Emirates, and Nigeria.

The company operates under a Virtual Asset Service Provider license in Poland and an Electronic Payment Service Operator license in Japan. OwlTing plans to pursue licensing in Hong Kong, Singapore, and select Latin American markets, subject to regulatory review.

Money transmission services in the United States are provided by OwlTing USA, Inc., a wholly owned subsidiary of OBOOK Holdings Inc.