Hong Kong just launched its first regulated stablecoin, HKDAP, now live and powering cross-border trade settlements via HashKey Exchange — pegged to the Hong Kong dollar, initially for institutions, targeting the $50B HK-UAE trade corridor and commercial insurance payments. This move positions HK as a rising alternative settlement hub for Asia-Middle East trade, amid a global stablecoin market projected to hit $4T by 2030. With strict regulation — only two issuers licensed out of 36 — Anchorpoint Financial (backed by Standard Chartered and Animoca Brands) and HSBC (integrating into PayMe) lead the charge. Retail access expected by end-2026, this marks a pivotal step in HK’s digital finance evolution.
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