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HashKey Exchange partners with Obita to provide institutional digital asset custody for Obita Mesh
HashKey Cloud backs licensed Ethereum staking service launched by HashKey Exchange in Hong Kong
HashKey Exchange Lists Stablecoin FDUSD for Professional Investors
HashKey Exchange and Franklin Templeton bring tokenized U.S. government liquidity fund to Asia
HashKey Exchange teams up with FTI to distribute tokenized money market fund in Asia
HashKey Exchange teams up with Franklin Templeton to offer tokenized U.S. government liquidity fund in Asia
Hong Kong dol
2026-08-14 14:00:00

Hong Kong dollar stablecoin race opens with HKDAP and HSBC taking opposite routes

Hong Kong’s licensed stablecoin market has entered its opening phase, but the contest over distribution and user access is still wide open. On Aug. 12, Anchorpoint Financial, led by Standard Chartered, began the institutional-phase issuance of HKDAP, a Hong Kong dollar stablecoin pegged 1:1 to HKD. HashKey Exchange and OSL Group were named as the first distributors, and HashKey completed the first HKDAP mint and redemption transaction. HSBC, which received a license on the same day as Anchorpoint in April, has chosen a very different path by integrating its stablecoin offering into PayMe and the HSBC HK App, aiming at direct retail reach in the second half of the year. HKDAP is positioned as a non-interest-bearing payment and settlement instrument backed by 100% reserves of high-quality, highly liquid assets held in segregated trust accounts. At the same time, a Aug. 14 review by blockchain security firm BlockSec raised questions about the quality of HKDAP’s Ethereum mainnet contracts, citing flaws in KYC revocation logic, concentration of high-risk permissions under a single key in some cases, no timelock in the governance engine, and overlap between execution and audit roles. Those findings did not allege losses, attacks, or reserve problems, but they introduced a new variable into the market: whether the underlying smart-contract infrastructure can keep up with regulatory and security scrutiny as distribution expands.

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Hong Kong dollar stablecoin race opens with HKDAP and HSBC taking opposite routes
Ireland
2026-08-14 13:52:10

Ireland AML strategy tightens scrutiny on self-custody wallet transfers as Binance curbs dealings with selected platforms

Ireland has published its first national anti-money laundering strategy, setting out tighter oversight for crypto activity as the remaining parts of the European Union’s Transfer of Funds Regulation, or TFR, take effect. The strategy says crypto-asset service providers will face enhanced scrutiny when handling transfers involving private or self-hosted wallets, while dealings with overseas crypto companies will be subject to stricter due diligence. It also states that TFR extends the Financial Action Task Force’s Travel Rule to crypto transfers by requiring originator and beneficiary information to accompany transactions, with the stated aim of improving transparency and traceability of fund flows. The WuBlockchain roundup also covered several other industry developments. HashKey Exchange said it completed real-fund subscription and redemption tests for the Hong Kong dollar stablecoin HKDAP with YF Life, exploring insurance payment use cases. Binance said it will stop processing transactions involving a list of crypto service providers and platforms on a phased timetable beginning August 7, August 13, and August 23. In the United States, the City of Baltimore sued Kalshi and Polymarket over allegations that they offered unlicensed sports betting services. Separately, Binance founder CZ commented on a Trezor logistics vendor data breach, saying the exposure could create phishing, social engineering, and personal safety risks for affected customers.

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Ireland AML strategy tightens scrutiny on self-custody wallet transfers as Binance curbs dealings with selected platforms