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HKDAP completes Ethereum's first end-to-end transaction

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According to Finncefeeds, Anchorpoint Financial, OSL Group, and PantherTrade have completed the first end-to-end transaction of Hong Kong's first approved stablecoin HKDAP on Ethereum. This stablecoin is regulated by the Hong Kong Monetary Authority, and Standard Chartered Bank provides custody and trust services. In the transaction, participants convert Hong Kong dollars into reserve assets, mint digital balances on the chain, and exchange them back into fiat currency through a redemption agreement. HKDAP plans to be publicly issued in stages by the end of the second quarter of this year.

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