Standard Chartered has become the first bank approved to distribute HKDAP, the first regulated stablecoin pegged to the Hong Kong dollar.
Cointelegraph, a cryptocurrency-focused media outlet, reported in a post on X on Aug. 25 that Standard Chartered was the first bank to receive approval to distribute HKDAP.
HKDAP is a stablecoin linked to the Hong Kong dollar and the first Hong Kong dollar-based stablecoin to be issued and distributed under Hong Kong’s regulatory framework.
The approval allows Standard Chartered to support HKDAP’s distribution.
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