Fintech platform Bitspark has officially launched the Hong Kong Dollar (HKD) backed stablecoin, called Sparkdex.HKD, according to Finance Magnates.
At press time, Sparkdex.HKD is listed on decentralized exchange (DEX) Sparkdex, which is the platform, developed by Bitspark and Bitshares.
Co-founder and CEO of Bitspark, George Harrap, claims until now, U.S. dollar-backed stablecoins have dominated the market even though there is a huge amount of various national currencies.
"We are proud to have pioneered this landmark first for both the cryptocurrency and traditional finance industry, and anticipate that this will lead the way for much-needed diversity among other currencies within the stablecoin sector," Harrap said.
Earlier, Singapore-based cryptocurrency exchange Huobi announced plans to launch its own stablecoin in 2019.
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