Standard Chartered Bank in Hong Kong just made history by becoming the first bank to distribute a regulated HKD stablecoin, HKDAP — a major leap bridging traditional finance and digital assets. Rolled out in phases to institutional clients, it’s already set for tokenized fund settlements, treasury ops, and cross-border payments, with plans to expand to global internal settlements and asset manager subscriptions later this year. Backed by Hong Kong’s new stablecoin rules and a joint venture with HKT and Animoca Brands, this move signals wider adoption as banks embrace Web3 through trusted, regulated channels.

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