According to OSL Group, the company and Tether Point Finance completed the first transfer test of HKDAP (HKD At Par) on the Ethereum mainnet on May 13. The test covered the full process of converting fiat HKD into reserve assets, minting, and transferring HKDAP, with all transactions backed 100% by reserve assets held by Standard Chartered Bank. All HKDAP tokens issued during the test have been fully redeemed. HKDAP is expected to launch in phases by the end of Q2 2026.
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