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Product · Hong Kong · Wed 19 Aug · 3 min read

HashKey's HK stablecoin targets trade, not gambling

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What happened

HashKey has begun using Hong Kong's first regulated HKD-pegged stablecoin for live settlement of insurance and trade transactions along the Hong Kong-UAE corridor. This corridor handles an estimated $49 billion in annual trade. The move follows institutional trials and represents the first production deployment of a stablecoin issued under Hong Kong's formal stablecoin regulatory framework. HashKey, already licensed as a virtual asset exchange in Hong Kong, is acting as both infrastructure provider and settlement counterparty.

Why it matters

Sources: CoinDesk

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