HashKey Partners to Launch Stablecoin After Unveiling Retail Crypto App
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- HashKey Group joins Yuanbi Technology and Zhongan Bank to introduce stablecoins in Hong Kong.
- Yuanbi Technology holds a stored value facility (SVF) license from Hong Kong.
- The HashKey Group stablecoin partnership notification follows the unveiling of a retail trading app.
During the KUN and HashKey Exchange strategic cooperation signing ceremony on Thursday, Xiao Feng, the founder of HashKey Group, made a significant announcement. Feng disclosed that HashKey Group is partnering with Yuanbi Technology and Zhongan Bank in Hong Kong to jointly issue stablecoins.
This development was captured in a Chinese report early today, November 2. According to the report, Yuanbi Technology, which was founded by the former president of the Hong Kong Monetary Authority, Chen Delin, has obtained a stored value facility (SVF) license from the country’s regulatory authority.
Furthermore, it disclosed that Yuanbi Technology largely targets institutions with its payment solutions. Notably, details specific to the proposed stablecoin project are yet to be disclosed at press time. Therefore, it remains to be determined whether the stablecoin will be pegged to the US dollar or…
The post HashKey Partners to Launch Stablecoin After Unveiling Retail Crypto App appeared first on Coin Edition.
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