HKDAP Becomes First Compliant Stablecoin for HK Fund Settlement
Anchored by OSL, Huaxia, and Standard Chartered, this launch closes the RWA liquidity loop in Hong Kong.
Key points
- HKDAP is the first regulated stablecoin used for public fund settlement in Hong Kong.
- OSL, China Asset Management, and Standard Chartered form the operational and custody triad.
- The system enables twenty-four-seven instant settlement, removing traditional banking hour constraints.
HKDAP becomes the first compliant stablecoin used for settlement in a Hong Kong public fund. This marks a decisive shift from pilot projects to live institutional trading.
Investors now subscribe and redeem units using HKDAP through OSL HK. The move connects on-chain liquidity directly to traditional asset management.
Three institutions close the liquidity loop
OSL HK handles trading and clearing for the new fund units. China Asset Management issues the underlying digital currency market product.
Standard Chartered acts as independent custodian and tokenization agent. This structure ensures institutional-grade security and legal clarity for all parties.
Instant settlement removes banking hour delays
Traditional money market funds face batch processing delays during bank operating hours. The new system enables twenty-four-seven atomic settlement for all transactions.
This capability eliminates counterparty risk in interbank fund transfers. It also opens efficient channels for institutional digital asset allocation.
Hong Kong enters full-stack commercial phase
ChainCatcher reports that this case surpasses the proof-of-concept stage completely. It follows earlier tokenized green bond initiatives in the region.
The market now has a complete licensed infrastructure ecosystem. Fiat stablecoin clearing drives this new phase of commercial activity.
