Hong Kong Custodian launches Dollar Stablecoin

The custodial organization that also provides trust services, First Digital, is going to launch the FDUSD dollar stablecoin. The company is located in Hong Kong.

Details about the initiative

A representative of the custodial organization talked to CoinDesk that the stablecoin will be released on Ethereum and BNB Chain. Negotiations are also underway to add a stable coin with the largest cryptocurrency exchanges.

At the same time, the coin will be regulated by the government with a special admin. a district in China. It will not be made available to ordinary investors in the region.

It is planned that there will be changes in the situation from next year. When the Monetary Management will be introduced with the mandatory registration of companies issuing stablecoins.

The regulator also wants to control the management, issue and retention of coins to fiat. The company noted that they are working closely with the relevant authorities. They want to ensure compliance with all existing and future regulatory requirements.

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