Standard Chartered-led Anchorpoint has launched a Hong Kong dollar stablecoin, with HashKey Exchange and OSL Group named as authorized distributors. The token, called HKDAP, is now available for minting and redemption by institutional and professional investors through the two exchanges.
What is HKDAP?
HKDAP is a stablecoin pegged to the Hong Kong dollar. Its value is tied to the currency, giving investors a digital asset that tracks the HKD. The token is designed for institutional and professional investors, who can mint and redeem it through the authorized channels. The launch adds a new option for digital asset trading in the region.
The authorized distributors
HashKey Exchange and OSL Group are the two authorized distributors for HKDAP. They will handle the minting and redemption process for eligible investors. This arrangement gives investors a direct pathway to access the stablecoin through established platforms.
Who can use it
The stablecoin is available to institutional and professional investors. These are the categories mentioned in the launch announcement. The two exchanges will facilitate the minting and redemption of HKDAP tokens for these investors.
HKDAP is now live on both HashKey Exchange and OSL Group.
