The
first
trial
will
permit
anonymous
registration
on
a
regulated
stablecoin
app
and
the
other
will
facilitate
the
purchase
of
tokenized
financial
products
with
the
stablecoin.
“With
Hong
Kong
on
the
cusp
of
announcing
new
stablecoin
regulations
allowing
digital
currencies
on
public
blockchains,
the
introduction
of
this
KYC
solution
trial
gives
Mainland
Chinese
residents
their
first
opportunity
to
legally
hold
public
chain
wallets
and
transact
with
stablecoins,
such
as
HKDA,
a
fiat-referenced
Hong
Kong
Dollar
stablecoin
issued
by
IDA.
This
project
signals
a
possible
first
step
in
aligning
with
China’s
long-term
approach
to
integrating
blockchain
technology,”
the
companies
said
in
a
statement.
