TrustToken is launching our first Asia-based stablecoin TrueHKD using Hong Kong based Legacy Trust
We are proud to announce the launch of our first stablecoin that is backed by an Asian currency, the Hong Kong dollar. The new stablecoin, TrueHKD, is fully collateralized by Hong Kong dollars and is launching with the support of Hong Kong-licenced digital asset custody provider Legacy Trust.
We are doubling down on our commitment to improve the global movement of money, and we’ve seen the most demand from our users in Asia.
TrueHKD will be available for purchase in the TrustToken app this week and will allow Hong Kong residents, as well as other users who hold Hong Kong dollars, to access TrustToken’s global network of exchanges, partners, and wallets.
TrueHKD is the first major expansion for TrustToken into the Asian market after launching TrueUSD, TrueGBP, TrueCAD, and TrueAUD with custody providers based in the US.
TrustToken will be using Legacy Trust, the first independent custodian provider that TrustToken is working with outside of the US to prudently hold all Hong Kong dollars that collateralize TrueHKD.
Quote from TrustToken:
“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. Legacy Trust has built a reputation as one of the world’s most trusted digital asset custodians — we are excited to have them as a partner to take the first major step in expanding our global banking network for our users.”
Quote from Legacy Trust:
“Asia is a significant market for the digital asset industry, and Hong Kong is the financial centre of the region, so it makes sense to launch TrueHKD to tap into that market and facilitate international transactions.” Vincent Chok, Founder and CEO of Legacy Trust said, “Working with TrustToken and their expertise, we hope to make it even easier to do business in Hong Kong and beyond, in a compliant and accountable way.“
Over the coming months, we are planning to build out TrueHKD integrations within our ecosystem of partners. Stay tuned for more announcements!
About TrustToken
TrustToken is creating a more efficient and inclusive global financial system by digitizing assets that can be seamlessly and securely exchanged across markets worldwide. TrustToken’s first product, TrueUSD, has become the most traded stablecoin fully backed by US dollars with monthly attestations of the underlying funds. TrustToken has since launched four additional fiat-backed stablecoins, TrueGBP, TrueAUD, TrueCAD, and TrueHKD. TrustToken products are trading on some of the world’s top exchanges — Binance, Huobi, OKEx, and many others — and can be purchased or redeemed directly in the TrustToken App. For more information, visit www.trusttoken.com.
About Legacy Trust Company
Legacy Trust Company is a Hong Kong-licensed and Public Registered Trust Company that provides custody services to institutions, corporations and high net-worth individuals who may be required by law to custody their traditional and digital assets with an independent party like Legacy. Founded in 1992, Legacy has transformed from a traditional pension and family trustee to a leading provider of custody services for exchanges, OTC desks, investment firms, hedge funds, and various other professional industry participants. For more information, visit: https://legacytrust.com.hk
