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Hong Kong financial technology company AnchorX announced its establishment and will explore Hong Kong dollar stablecoin AxHKD PANews reported on March 8 that AnchorX, a local financial technology company in Hong Kong, announced its official establishment and will explore the Hong Kong dollar stable currency AxHKD. As another important player in the field of virtual assets in Hong Kong, the establishment of AnchorX has received strategic support from top companies in the fields of traditional finance and blockchain technology. Hony Capital, China's leading investment management group, manages more than US$16 billion in assets and provides resource support and business synergy to AnchorX. In addition, Conflux Network provides AnchorX with basic technology with excellent scalability, security, high speed and low cost. AxHKD will use the world's leading distributed ledger technology and have strong network security support. AxHKD ensures a 1:1 anchor with the Hong Kong dollar through high-quality, highly liquid asset reserves. These reserve assets are protected through a separate trust structure and held by financial institutions regulated in Hong Kong. AnchorX's strategic partner OKLink Trust will provide trust custody services. AnchorX plans to promote the application of AxHKD based on two main usage scenarios. First, as a catalyst for global cross-border payments, it promotes cross-border business between Hong Kong and global markets, especially business cooperation with “Belt and Road” partners with imperfect banking infrastructure. Secondly, as a reliable on-chain legal currency tool, it can be used in virtual asset transactions, while paving the way for real asset (Real World Asset) innovation in Hong Kong and opening up the link between traditional financial assets and digital assets.

Bsim 🎺 – at Macau