Standard Chartered picked as first bank to distribute Hong Kong stablecoin HKDAP

Standard Chartered has been selected as the first financial institution to distribute HKDAP, a Hong Kong dollar-pegged stablecoin, Crypto Briefing reported. HKDAP is the first regulated stablecoin to be issued under Hong Kong’s new stablecoin licensing regime, with SC-backed AnchorPoint Financial participating in the issuance. Access to HKDAP is currently limited to institutional and corporate clients.