HashKey Taps Hong Kong’s HKDAP Stablecoin for UAE Cross

HashKey Exchange, Hong Kong's largest cryptocurrency exchange, plans to use the Hong Kong dollar-pegged HKDAP stablecoin to settle cross-border trade transactions with the UAE and the broader Middle East, less than a week after the newly regulated stablecoin's launch. The initiative targets a significant trade corridor, with Hong Kong-UAE trade totaling $48.95 billion in 2025 and roughly $24 billion in trade with the rest of the Middle East. HashKey will also work with digital asset insurer OneDegree to use HKDAP for commercial insurance premium payments.