Solana News: Standard Chartered-Backed Stablecoin Deal Marks Hong Kong Expansion
Photo: The Coin Republic
Key Insights: The planned HKDAP rollout in Solana news covers native issuance and redemption. Anchorpoint’s FRS01 license requires full backing and redemption. The $14.13B stablecoin total in Solana news represented 75% of tracked assets. Solana news reported a Hong Kong stablecoin agreement between the Solana Foundation and Standard Chartered-backed Anchorpoint Financial. The partners signed a memorandum of understanding covering native issuance and redemption of HKDAP on Solana. According to the report , the Hong Kong dollar-backed stablecoin would support retail payments and settlement for tokenized assets. The arrangement also targets financial products denominated in Hong Kong dollars.
Source: The Coin Republic
