“With Hong Kong on the cusp of asserting new stablecoin rules permitting digital currencies on public blockchains, the introduction of this KYC resolution trial offers Mainland Chinese language residents their first alternative to legally maintain public chain wallets and transact with stablecoins, equivalent to HKDA, a fiat-referenced Hong Kong Greenback stablecoin issued by IDA. This mission alerts a potential first step in aligning with China’s long-term method to integrating blockchain know-how,” the businesses stated in an announcement.
