Standard Chartered, a British multinational bank, has become the first authorized bank distributor of HKDAP (HKD At Par), a Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial. This initiative enables institutional clients to transfer and settle tokenized Hong Kong dollar value around the clock, 24/7. Use cases include tokenized money market funds and intragroup settlements for multinational companies, reducing reliance on bank cut-off times and intermediaries. The stablecoin market recorded $6.5 trillion in total transaction volume over the past 30 days.
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