Digital asset group HashKey Holdings Limited announced that its licensed trading platform, HashKey Exchange, entered a partnership with OneDegree‘s commercial insurance arm, One Infinity. The partnership aims to expand the commercial and financial applications of HKDAP, a regulated HKD stablecoin.
HashKey Exchange and OneInfinity previously established a collaboration to provide insurance coverage for users’ virtual assets, and this partnership further brings their synergy into the stablecoin ecosystem.
HashKey is a major authorised distributor for the Hong Kong Dollar stablecoin HKDAP.
Haiyang Ru, CEO of HashKey Exchange BG, stated,
“Backed by HashKey Exchange’s liquidity assurance and compliant exchange capabilities, both companies will continue to enrich the real-world use cases for HKD stablecoins and enhance the circulation efficiency of digital assets.”
HashKey Exchange will provide compliant conversion services between HKDAP and fiat currencies for eligible users.
Building on the technology services operational needs of AIFT Group, which is the parent company of OneDegree, both partners intend to explore the use of HKDAP for selected cross-border business payment and settlement scenarios.
Beyond that, they are also exploring the possible use of HKDAP in commercial insurance premium payments in Hong Kong.
Featured image edited by Fintech News Hong Kong based on an image by DC Studio on Magnific