Leading licensed digital asset trading platform EX.IO has announced a strategic partnership with electronic payment platform Payment Asia through a signed Memorandum of Understanding (MOU). The collaboration aims to jointly explore and expand payment, custody, trading, and application scenarios for regulated stablecoins in Hong Kong, with the goal of building robust infrastructure for regulated stablecoin issuers in the region.
The partnership arrives at a pivotal moment as Hong Kong's stablecoin regulatory framework reaches maturity. The Hong Kong Monetary Authority (HKMA) officially announced on April 10 the issuance of two stablecoin issuer licenses. Both companies welcome this milestone and are ready to leverage their respective expertise to strengthen stablecoin infrastructure.
Key collaboration directions include: (1) Custody and Exchange – Once licensed stablecoins are traded on the EX.IO platform, the company will support Payment Asia in providing custody services. The parties will explore convenient subscription and trading between licensed stablecoins and fiat currencies (USD and HKD). (2) Development of Licensed Stablecoin Merchant Acquiring – The two will collaborate to integrate technology and merchant service resources, leveraging Payment Asia's extensive merchant network and EX.IO's digital asset trading capabilities to provide merchants with stablecoin payment and settlement solutions.
Recent reports from major investment banks indicate that the Hong Kong stablecoin market is projected to reach approximately US$16 billion (around HK$125 billion), with substantial room for further growth. Both parties believe issuers, trading platforms, and payment companies will benefit comprehensively from building the licensed stablecoin ecosystem.
Ms. Chen Wu, Co-founder and CEO of EX.IO, stated: "The issuance of Hong Kong's inaugural licensed stablecoin marks a significant and positive milestone for the local digital asset ecosystem. Through a comprehensive suite of full-chain services, the two parties will collaborate to establish a seamless, one-stop ecosystem spanning from product offering to practical, real-world implementation."
Mr. Paul Tang, Chief Operating Officer of Payment Asia, added: "This strategic partnership marks a crucial step forward in building a licensed stablecoin application ecosystem. We are confident in creating a closed-loop stablecoin infrastructure from trading to payment for the Hong Kong market."
EX.IO is a strictly regulated Virtual Asset Trading Platform (VATP) approved by the Hong Kong Securities and Futures Commission (SFC) since December 2024. Payment Asia, established in 1999, is a leading e-payment technology and e-commerce management company based in Hong Kong.
