Hong Kong stablecoin launch by blockchain money transfer company Bitspark

January 29, 2019

Hong Kong's long-awaited stablecoin sparkdex.HKD has officially been launched as of 7th of September. It was only a matter of time that Asia's financial hub got its first stablecoin which will provide easier access for Hong Kong to convert cash to crypto via sparkdex.HKD.

Sparkdex.HKD is a Hong Kong stablecoin released by Bitspark and is Hong Kong's first stablecoin. Stablecoins are cryptocurrencies pegged to the price of a stable asset such as a national currency. CEO of Bitspark, George Harrap, explains and shares the latest on stablecoins and sparkdex.HKD on Bloomberg Radio here.

Sparkdex.HKD provides several opportunities for customers including:

  • Other stablecoin options than USD.
  • Customers can also confidently hold sparkdex.HKD stablecoin with provable reserves via third-party audit released quarterly.
  • Customers can convert in and out of sparkdex.HKD easily via Bitspark's web platform.
  • Customers also have three different deposit mechanisms available on the web. Vault or shop (Hong Kong only), Bank (international), cryptocurrency (international). Create an account and try here.

Bitspark works to provide easy access to crypto money transfers with stablecoins as a big part of the company's international strategy. As stablecoins such as sparkdex.HKD provides customers with the ability to hold their national currency before exchanging to another stablecoin or buying cryptocurrency such as Bitcoin, Ethereum or Bitshares, those seeking to send money with cryptocurrency now have more options.

Launching sparkdex.HKD was a natural option for the Hong Kong-based cryptocurrency money transfer company that was founded in 2014. With the next stablecoin on the roadmap to be peg.PHP, a stablecoin pegged to the price of the Philippines Peso.

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