Key facts
- HashKey Exchange will use HKDAP, Hong Kong's first regulated stablecoin, for cross-border trade settlements.
- The stablecoin will facilitate trade with the UAE and the wider Middle East region.
- HKDAP will also be used for commercial insurance premium payouts.
- HKDAP is issued by Anchorpoint Financial, a venture backed by Standard Chartered, HKT, and Animoca Brands.
- The stablecoin is currently limited to institutional users, with retail access expected by late 2026.
HashKey Exchange is set to utilize HKDAP, Hong Kong's inaugural regulated Hong Kong dollar-pegged stablecoin, for settling cross-border trade transactions with the UAE and the broader Middle East region. This move follows the stablecoin's recent debut and aims to position Hong Kong as a key settlement hub between Asia and the Middle East.
The exchange will also leverage HKDAP for commercial insurance premium payouts in partnership with digital asset insurer OneDegree. Previously, HashKey conducted a successful test of HKDAP for life insurance premium payments with insurer YF Life.
HKDAP is issued by Anchorpoint Financial, a venture supported by Standard Chartered, HKT, and Animoca Brands. The stablecoin was initially rolled out for institutional users on August 12 and is anticipated to become available to retail customers by the end of 2026. Hong Kong's financial authority has maintained strict regulatory controls, granting only two stablecoin issuance licenses.