Bank Distributes HK Stablecoin

Hong KongStandard Chartered began distributing Hong Kong’s dollar stablecoin.

The risk moves from smart-contract failure to Standard Chartered’s own balance sheet.

Anchorpoint’s HKDAP began institutional rollout August 12, with HSBC’s rival token due later this year.

Whether either issuer opens the token to retail users remains undecided.

Sources: CoinDesk