Anchorpoint Financial, which received a stablecoin issuance licence from the Hong Kong Monetary Authority (HKMA), has completed a test transferring its Hong Kong dollar stablecoin HKDAP (HKD At Par) to the Ethereum mainnet.
A recent report by the Hong Kong Economic Journal said the test was conducted jointly with OSL Group and LeopardTrade, a trading platform under Futu Holdings. The test focused on verifying the process of converting fiat Hong Kong dollar funds into reserve assets.
Standard Chartered Hong Kong provided infrastructure and institutional trust services to ensure full collateralisation. All test tokens were redeemed.
HKDAP is set to be officially issued in phases from the end of the second quarter of this year.
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Chi-gyu Hwang (황치규)
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