New USD-denominated stablecoin launches in Hong Kong blockchainbond stablecoin EUROe
- Stablecoins continue to be one of the preferred routes of entry into the digital asset ecosystem as the past week has seen the launch of a U.S.-dollar-backed stablecoin in the Hong Kong market and the launch of an on-chain bond backed by the EUROe, the only EU-regulated stablecoin.
The new stablecoin will be issued by FD121 Limited, a subsidiary of First Digital Limited, and will offer users “a reliable digital currency aimed at reducing volatility in the cryptocurrency market, enhancing the efficiency of financial transactions by lowering transaction costs, and offering faster, more secure transactions,” the release said.
“The launch of this stablecoin represents a major stride forward in our mission to provide a secure and efficient digital currency that can be seamlessly integrated into everyday transactions,” said Vincent Chok, CEO of First Digital. “Transparency and robust oversight are paramount in building trust in stablecoins and in turn the adoption of this innovative blockchain technology, especially at a time when stability in the traditional financial system is uncertain.
Obligate is a Polygon-based protocol that helps provide small and medium-sized enterprises with a safe and transparent way of issuing, tracking and settling debt.
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