Huashan Fund Utilizes Hong Kong Dollar Stablecoin HKDAP for Digital Asset Investment

Huashan Fund (Hong Kong) has conducted its first digital asset investment utilizing Hong Kong dollar stablecoin HKDAP, in partnership with Standard Chartered Bank and OSL Group. According to Sinota, the transaction involved using HKDAP for subscription and redemption processes of Huashan Fund's digital money market fund (MMF). HKDAP is issued by Anchor Point Financial, a licensed stablecoin issuer established under the leadership of Standard Chartered Bank in Hong Kong.