OSL completes test transfer of HKDAP stablecoin on Ethereum

Hong Kong's OSL Group, in partnership with stablecoin issuer Anchor Point Financial, has completed a test transfer of the Hong Kong dollar stablecoin HKDAP on the Ethereum mainnet, Foresight News reported. The test covered the entire process of converting Hong Kong dollars into reserve assets before minting and transferring the stablecoin. Standard Chartered Bank provided custody services, ensuring the full issuance was 100% backed by reserve assets. HKDAP is scheduled for a phased rollout at the end of the second quarter of this year.