The entire process from testing to redemption has been successfully completed; the Monetary Authority's sandbox was not built in vain.

CryptoWorld News reports, citing Hong Kong Economic Daily, that Dingtian Financial has been issued a stablecoin issuer license by the Hong Kong Monetary Authority, and announced that it successfully completed a transfer testing of the Hong Kong dollar stablecoin 「hkdap」 (“hkd at par”) on the Ethereum mainnet with OSL Group and “Cheetah Trading,” a licensed trading platform under Futu Holdings. The test covered the process of converting fiat Hong Kong dollar funds into reserve assets, with Standard Chartered Hong Kong ensuring full support; all test tokens were redeemed in full after the completion. The official revealed that hkdap is planned to begin phased official issuance at the end of the second quarter of this year.