Hong Kong’s latest regulated stablecoin is already being put to work.
HashKey Change, Hong Kong’s largest cryptocurrency alternate, is about to settle cross-border commerce transactions with the UAE and the broader Center East area utilizing HKDAP following the stablecoin’s debut six days in the past.
The whole cross-border commerce transactions between Hong Kong and the UAE had been $48.95 billion for all of 2025, nearly double the $24 billion Hong Kong recorded with the remainder of the Center East.
The alternate may even use HDKAP for business insurance coverage premium payouts alongside digital asset insurer OneDegree, based on a press release on Monday. HashKey beforehand examined HKDAP for all times insurance coverage premium funds with insurer YF Life on Aug. 14.
HKDAP is the primary Hong Kong dollar-pegged stablecoin to go reside below town’s regulatory framework.
HKDAP’s issuer Anchorpoint Monetary, a enterprise backed by Normal Chartered, HKT and Animoca Manufacturers, started a restricted rollout of its stablecoin solely for institutional use on Aug. 12. Retail entry might come by the tip of 2026.
