HashKey Exchange, Hong Kong's largest cryptocurrency exchange, will use HKDAP—Hong Kong's first regulated stablecoin, which debuted six days earlier—to settle cross-border trade transactions with the UAE and the wider Middle East. Trade between Hong Kong and the UAE totaled $48.95 billion in 2025, nearly double the $24 billion recorded with the rest of the Middle East. HashKey will also use the stablecoin for commercial insurance premium payouts alongside digital asset insurer OneDegree.
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