According to official news, Hong Kong financial technology company AnchorX announced its official establishment and will explore the Hong Kong dollar stable currency AxHKD. AnchorX hopes to become a trustworthy digital currency issuer in Asia, enabling global transactions and exchanges reliably and efficiently.
The establishment of AnchorX has received strategic support from top companies in traditional finance and blockchain technology. Investment management group Hony Capital manages more than $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 distributed ledger technology and have strong network security support. AxHKD ensures a 1:1 peg to 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 will also adopt the Onchain AML solution developed by OKLink Fintech to enhance its anti-money laundering capabilities related to virtual assets.
AnchorX plans to promote the use of AxHKD based on two main use cases. 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.
AnchorX Chief Compliance Officer Byron Wong said when talking about the company's commitment to firmly implement regulatory standards: "Hong Kong's proactive attitude towards stablecoin regulation is at the forefront of the world. We will ensure that AxHKD strictly follows the regulatory standards for stablecoins. We will study Apply to participate in the upcoming regulatory sandbox and hope to contribute our first-hand practical experience to help build a successful stablecoin regulatory system."