HKDAP Marks Milestone Breakthrough in Traditional-Chain Integration

The Hong Kong dollar stablecoin HKDAP has achieved a milestone breakthrough in traditional asset management and on-chain compliant assets. OSL Group, Huaxia Fund (Hong Kong), and Standard Chartered Bank jointly announced the formal completion of Hong Kong's first real business case using HKDAP for the subscription and redemption of digital currency market fund units.

The collaboration of a licensed exchange for matching and settlement, top-tier public fund asset tokenization, and custody by a world-class commercial bank has successfully validated the end-to-end clearing link of 'regulated stablecoin + tokenized fund.'

Kevin Cui, Executive Director and CEO of OSL Group, stated that tokenized funds are one of the exemplars of the organic combination of traditional finance and digital assets, and they represent a potential application scenario that is naturally compatible with regulated stablecoins.