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.
The move is part of a beta launch. Eligible institutions and professional investors can use HKDAP through HashKey and other supported channels. HashKey completed its first HKDAP issuance and redemption transactions for eligible clients. The process included fiat deposits and withdrawals.
The two companies plan to gradually expand the distribution scope and broaden uses for HKDAP. Proposed use cases include cross-border payments and settlement, and tokenised finance.
HKDAP is short for "HKD At Par" and is a Hong Kong dollar stablecoin designed as a tokenised currency for payments and other financial transactions. Anchorpoint Financial is a joint venture established by Standard Chartered Bank Hong Kong, HKT and Animoca Brands. It is among the first group of companies to receive a Hong Kong Monetary Authority stablecoin issuance licence.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr