OSL Completes Hong Kong's First Investment Case Using HKD Stablecoin with Huaxia Fund and Standard Chartered

OSL Group, Huaxia Fund (Hong Kong), and Standard Chartered Bank have completed Hong Kong's first case of subscribing and redeeming units of a digital currency market fund using the HKD stablecoin HKDAP. HKDAP is issued by Dingdian Financial Technology Co., Ltd. and is applied to the subscription and redemption of units in the digital currency market fund under Huaxia Fund (Hong Kong) through a trading account opened at OSL Group's licensed exchange OSL HK. OSL HK provides support for the subscription, trading, and settlement between HKDAP and the fund tokens; Standard Chartered Bank acts as the custodian of the tokens and fund units as well as the tokenization agent. Kevin Cui, Executive Director and CEO of OSL Group, stated that tokenized funds are one of the examples of the integration of traditional finance and digital assets, and they represent a potential application scenario for regulated stablecoins. OSL will use this as a starting point to bring more high-quality stablecoin products and digital asset allocation options to its clients.

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