China-backed ChinaAMC Hong Kong completes digital asset investment using HKDAP

ChinaAMC Hong Kong said it has completed a digital asset investment using the Hong Kong dollar stablecoin HKDAP in collaboration with Standard Chartered Bank and others. The asset manager described it as the first case in Hong Kong of HKDAP being used for a digital asset investment. HKDAP is a Hong Kong dollar-pegged stablecoin designed under the leadership of Standard Chartered Bank Hong Kong and issued by licensed stablecoin issuer Anchor Financial. ChinaAMC Hong Kong said the case shows Hong Kong dollar stablecoins can be linked with digital financial assets within a regulatory framework.