Dingdian Fintech plans to launch the regulated Hong Kong Dollar stablecoin HKDAP in phases starting from Q2.

Odaily reported that Animoca Brands announced on the X platform that the joint venture Cheong Kong FinTech, co-founded by Standard Chartered Bank, HKT, and Animoca Brands, will progressively launch the regulated Hong Kong dollar-backed stablecoin HKDAP (HKD At Par) starting from the second quarter of this year. Evan Auyang, President of the group, stated that a properly governed Hong Kong dollar-backed stablecoin is crucial for financial infrastructure.