Fake Hong Kong stablecoins start trading as real ones remain absent
Burns Brief
Tokens using ‘HKDAP’ and ‘HSBC’ tickers are circulating even as the HKMA says no licensed stablecoins have been issued Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
Tokens using ‘HKDAP’ and ‘HSBC’ tickers are circulating even as the HKMA says no licensed stablecoins have been issued
Key Takeaways
- Tokens using ‘HKDAP’ and ‘HSBC’ tickers are circulating even as the HKMA says no licensed stablecoins have been issued