Standard Chartered becomes first bank distributor of HKD stablecoin
Standard Chartered has announced it will be the first bank to distribute a Hong Kong dollar‑denominated stablecoin, aiming to use the token for money‑market‑fund settlements later this year. The move comes as the Hong Kong Digital Asset Programme (HKDAP) rolls out its phased implementation into mainstream banking. The bank’s plan targets the fourth quarter for the stablecoin‑backed settlement system.
Standard Chartered has announced it will be the first bank to distribute a Hong Kong dollar‑denominated stablecoin, aiming to use the token for money‑market‑fund settlements later this year. The move comes as the Hong Kong Digital Asset Programme (HKDAP) rolls out its phased implementation into mainstream banking. The bank’s plan targets the fourth quarter for the stablecoin‑backed settlement system.
Sources
- Cointelegraph — Standard Chartered becomes first bank distributor of HKD stablecoin
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