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HKDAP Stablecoin Completes Transfer Testing on Ethereum, Planned for Phased Launch Later This Year

GateNews
Project Progress
ETH-0.40%
According to Odaily, HKDAP, a Hong Kong dollar stablecoin issued by Archpoint Finance (a joint venture of Standard Chartered Hong Kong, Hong Kong Telecommunications, and Animoca Brands), completed transfer testing on Ethereum. The test covered the conversion of fiat Hong Kong dollar reserves into reserve assets, with all HKDAP subsequently redeemed in full. The project plans to launch in phases later this year.
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