Bank of East Asia plans to explore stablecoin payment use cases in Hong Kong as a reserve bank and authorized mint
2024-12-12 11:36:32
On December 12th, Bank of East Asia announced a partnership with Hong Kong-based fintech company IDA to explore the feasibility of widespread adoption of digital finance by pegging a stablecoin at HK $1:1. The two sides will jointly explore an application case that can simplify the payment process and enhance the user experience. Bank of East Asia will act as a reserve bank and authorized mint to ensure compliance with regulatory frameworks while promoting fintech innovation.
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