HashKey, OneDegree Bring HKDAP Stablecoin to Insurance and Trade

Hong Kong’s push to regulate fiat-referenced stablecoins has shifted attention from issuance to real-world adoption, including payments, settlement and corporate treasury use. HashKey Exchange, a licensed virtual-asset trading platform, is partnering with One Infinity, the commercial insurance arm of OneDegree, to connect HKDAP with regulated financial channels. The tie-up tests whether a Hong Kong dollar-linked token can move beyond crypto trading and support routine business transactions under the city’s compliance regime.

Under the agreement, HashKey Exchange and One Infinity plan to provide compliant conversion between HKDAP and fiat currencies, while exploring cross-border payments and settlement, trade transactions and commercial insurance premium payments. The companies have not disclosed a transaction value, launch date or expected settlement volume. Execution will hinge on merchant adoption, fiat on- and off-ramp liquidity, and the operating requirements applied to HKDAP as Hong Kong develops regulated stablecoin use cases.