Hong Kong Stablecoin Issuer Completes HKDAP Transfer Test on Ethereum

Hong Kong stablecoin issuer, established by Standard Chartered Hong Kong, Hong Kong Telecom, and Animoca Brands, has announced the completion of a transfer test for the HKDAP stablecoin on the Ethereum blockchain. According to Odaily, the test involved converting fiat Hong Kong dollars into reserve assets. All HKDAP tokens were fully redeemed following the test. The phased issuance of HKDAP is expected later this year.