Stablecoins issuer TrustToken has announced the launch a new Asia-based stablecoin pegged 1:1 to the Hong Kong dollar — TrueHKD.
The new stablecoin, TrueHKD, is reportedly fully collateralized by Hong Kong dollars and is launching with the support of Hong Kong-licenced digital asset custody provider Legacy Trust, notes the announcement.
According to TrustToken, the new stablecoin will be available for purchase in the TrustToke app this week and will provide access to TrustToken’s global network.
“We are thrilled to be working with Legacy Trust to expand into the Asian market. Our goal is to offer traders better solutions to securely move between local fiat currencies and the global blockchain markets and applications,” states the official announcement.
Earlier this year, TrustToken announced the launch of a Canadian dollar-backed stablecoin — TrueCAD. In addition to these assets, TrustToken also issues TrueUSD, TrueGBP, and TrueAUD stablecoins.
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