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Crypto

Banks and regulators launch quantum-resistant crypto project

Responsible Finance Institute (RFI) and crypto custody infrastructure firm Safeheron have launched a pilot project to test a quantum-resistant cryptocurrency wallet and on-chain transfer infrastructure, Cointelegraph reported. Banks and financial regulators from Europe, the Middle East and Asia are participating. The project uses an MPC protocol supporting NIST’s ML-DSA-65 standard on a quantum-resistant NEAR testnet. RFI said regulators including ADGM, GFSO and MFSA have confirmed participation.

Crypto

Singapore, Hong Kong, Japan emerge as test beds for stablecoin payment networks

Asia is emerging as the first large-scale testing ground for stablecoin payment and settlement networks. Singapore, Hong Kong and Japan are building regulatory zones that allow stablecoins for payments and settlement under supervision. Singapore has included firms such as Circle and Coinbase as major payment institutions. Hong Kong has started licensing fiat-backed stablecoin issuers and granted its first licences. Japan has expanded its crypto travel rule requirements for transfers.

Crypto

HashKey starts beta distribution of Hong Kong dollar stablecoin HKDAP

HashKey exchange has joined as an authorised distributor of the Hong Kong dollar stablecoin HKDAP. Cointelegraph reported on Aug. 12 that Hong Kong-licensed stablecoin issuer Anchorpoint Financial added HashKey to HKDAP distribution channels as part of a beta launch. Eligible institutions and professional investors can access HKDAP through HashKey and other supported channels. HashKey completed its first HKDAP issuance and redemption transactions for eligible clients, including fiat deposits and withdrawals.