HashKey partners prepare to launch stablecoin

On Thursday, at the strategic cooperation signing ceremony between KUN and HashKey Exchange, founder Xiao Feng Hash key groupissued an important announcement.

Feng revealed that HashKey Group is cooperating with Yuanbi Technology and Hong Kong Zhongan Bank to jointly issue stablecoins.

In the early hours of November 2, a Chinese report documented this development.

According to reports, Yuanbi Technology, founded by former Hong Kong Monetary Authority Chairman Chen Delin, has obtained a stored value facility (SVF) license from Hong Kong regulators.

In addition, it was revealed that Yuanbi Technology’s payment solutions are mainly targeted at institutions.

It is worth noting that at the time of writing, specific details about the proposed stablecoin project have not yet been revealed. Therefore, whether the stablecoin will be pegged to the US dollar or the Chinese yuan remains to be determined.

In addition, it is worth mentioning that HashKey Group is a well-known digital asset management company regulated by the Hong Kong Securities and Futures Commission (SFC).

Interestingly, the announcement of this stablecoin partnership comes on the heels of the release of HashKey Group’s latest services for retail investors.

Specifically, Hong Kong’s Securities and Futures Commission on Friday approved HashKey’s move to launch a cryptocurrency trading app aimed at individual cryptocurrency investors.

Following the approval, HashKey Group yesterday launched its retail trading application called HashKey Exchange App.

According to the company’s statement, the app provides comprehensive mobile trading capabilities to the retail industry, positioning it as a vital addition to the cryptocurrency ecosystem. Hongkong.

Highlighted, HashKey App Announcement Report has stated that Hong Kong investors can now purchase Bitcoin and Ethereum In local currency or US dollars.

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