Stablecoins boom as sovereign era arrives

Homepage > News > Finance > Stablecoins boom as sovereign era arrives Standard Chartered joins HKDAP push Stablecoin market hits new heights Sovereign stablecoin era takes shape Hong Kong dollar-backed stablecoin gets first distributor bank, just as one of the territory’s leading payment firms reveals transaction volume on stablecoin-linked cards has surpassed $10 billion. Meanwhile, a new report heralds the birth of the “sovereign stablecoin era,” with the United Arab Emirates emerging as a regional template for replicating the success of USD stablecoins. Standard Chartered to distribute HKD stablecoins Last week, Standard Chartered Bank (Hong Kong) Limited announced it had become an authorized distributor of HKDAP (HKD At Par), the first regulated Hong Kong Dollar-backed stablecoin issued by Anchorpoint Financial Limited (Anchorpoint), a licensed stablecoin issuer regulated by the Hong Kong Monetary Authority (HKMA). As the first bank to join as an initial distributor, Standard Chartered can now support use cases and actively engage with eligible institutional clients and partners to integrate HKDAP into their business activities. “Standard Chartered is pleased to be the...