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HashKey Exchange to use Hong Kong's first regulated stablecoin, HKDAP, for cross-border trade and insurance settlements
HashKey Exchange, Hong Kong's largest cryptocurrency exchange, will utilize HKDAP, the city's first regulated Hong Kong dollar-pegged stablecoin, to settle cross-border trade transactions with the UAE and the wider Middle East region. This follows HKDAP's debut six days ago. The exchange will also use HKDAP for commercial insurance premium payouts with digital asset insurer OneDegree. HashKey previously tested HKDAP for life insurance premium payments with insurer YF Life on August 14. HKDAP's issuer, Anchorpoint Financial, began a limited institutional rollout on August 12, with retail access potentially by the end of 2026. Hong Kong's total cross-border trade with the UAE was $48.95 billion in 2025.
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