Why Payward chose Hong Kong to be its Asian stablecoin gateway
By setting clear rules, Hong Kong is pushing to become the world’s safest launch pad for the digital currency
The city’s unique positioning stemmed from its century-long role as a gateway for international business, said Arjun Sethi, Co-CEO of Payward, the parent company of Kraken – a top-tier cryptocurrency exchange in the United States – in an exclusive interview with the South China Morning Post.
Stablecoins and blockchain technology were reshaping the city into a global, round-the-clock liquidity hub, enabling businesses in regions with weak banking infrastructure, such as Africa and Latin America, to access capital at any time, Sethi said.
Payward recently completed a US$600 million acquisition of Hong Kong-based Reap Technologies, a stablecoin-native payments infrastructure provider, marking its first and largest such acquisition in Asia.