Hong Kong dollar stablecoin completes first transaction on Ethereum

The Hong Kong dollar stablecoin HKDAP has successfully completed its first live transaction on the Ethereum mainnet, Finance Magnates reported. The stablecoin operates under the supervision of the Hong Kong Monetary Authority (HKMA). The transaction was conducted by a consortium of licensed institutions, including Anchorpoint Financial, a fintech company backed by Standard Chartered Hong Kong, along with OSL Group and PansarTrade.