“With Hong Kong on the cusp of saying new stablecoin laws permitting digital currencies on public blockchains, the introduction of this KYC resolution trial provides Mainland Chinese language residents their first alternative to legally maintain public chain wallets and transact with stablecoins, comparable to HKDA, a fiat-referenced Hong Kong Greenback stablecoin issued by IDA. This challenge alerts a potential first step in aligning with China’s long-term method to integrating blockchain know-how,” the businesses mentioned in an announcement.
