Key facts
- HashKey Exchange will use HKDAP for trade settlements and insurance payouts.
- HKDAP is Hong Kong's first regulated Hong Kong dollar-pegged stablecoin.
- The stablecoin will be used for cross-border trade settlements with the UAE and Middle East.
- HKDAP will also be used for insurance premium payouts.
- HKDAP is issued by Anchorpoint Financial.
- The stablecoin is currently for institutional use.
- Retail access for HKDAP is planned for late 2026.
HashKey Exchange announces its intention to utilize HKDAP, Hong Kong's inaugural regulated Hong Kong dollar-pegged stablecoin, for a range of financial transactions. The stablecoin will be employed for cross-border trade settlements specifically connecting Hong Kong with the UAE and the broader Middle East region. Additionally, HKDAP will be used for insurance premium payouts. HKDAP is issued by Anchorpoint Financial, a company that has developed this regulated digital asset. Currently, the stablecoin is accessible for institutional clients. Anchorpoint Financial has stated its objective to extend retail access to HKDAP by the end of 2026. This development signifies a notable advancement in the adoption of regulated stablecoins for practical financial applications, particularly in facilitating international trade and insurance services.