#hkdap

➤ Hong Kong's regulated stablecoin HKDAP has successfully completed an Ethereum mainnet test, involving key financial institutions like OSL and Standard Chartered. ➤ The test verified critical functions such as fiat-to-reserve asset conversion, on-chain transfers, and redemptions, paving the way for HKDAP's phased launch. ➤ This development signifies Hong Kong's progress in building a regulated digital asset framework and introduces a potential local settlement option for institutions.

➤ Hong Kong's first officially approved stablecoin, HKDAP, has successfully completed its initial mainnet transaction on the Ethereum public blockchain, operating under the Hong Kong Monetary Authority's oversight. ➤ The trial demonstrated seamless conversion of fiat Hong Kong dollars to the digital token and back, with Standard Chartered providing custody and reserve verification. ➤ This achievement positions Hong Kong as a key hub for regulated financial innovation, offering a compliant alternative to offshore stablecoins and integrating traditional liquidity with DeFi.

➤ Hong Kong's HKDAP stablecoin has successfully completed an end-to-end test on the Ethereum blockchain, marking a significant step in the region's regulated digital asset framework. ➤ The test, supervised by the Hong Kong Monetary Authority (HKMA), involved regulated fiat-to-token conversion and blockchain settlement, with Standard Chartered Hong Kong providing custody and reserve assurance. ➤ This milestone is considered the first real-world transaction under Hong Kong's Stablecoins Ordinance, paving the way for a phased public launch and further integration of digital assets into traditional finance.

➤ Hong Kong's Monetary Authority (HKMA) has issued a critical warning about fake stablecoins using the tickers 'HKDAP' and 'HSBC' that are circulating in the market. ➤ The HKMA confirmed that no licensed stablecoin operators have launched yet in Hong Kong under the new law enacted in August 2025, making these tokens fraudulent. ➤ Investors are urged to be vigilant, verify claims through official channels, and avoid unverified digital assets to prevent financial loss and maintain market integrity.