The mature integrated digital asset company HashKey Holdings Limited (3887.HK) in Asia announces that its licensed trading platform HashKey Exchange (« HashKey ») has completed the first regulated Hong Kong dollar stablecoin HKDAP real transaction with Virtue Insurance International Limited (« Virtue Insurance »), and will continue to promote the practical application of the first regulated Hong Kong dollar stablecoin HKDAP in insurance payment scenarios in Hong Kong.

HashKey Exchange is a major recognized distributor of the first batch of Hong Kong dollar stablecoin HKDAP. HKDAP is issued by the first licensed stablecoin issuer in Hong Kong, Anchor Financial Technology Limited.

This use case test has completed the subscription and redemption process of HKDAP using real funds, laying a solid foundation for Virtue Insurance to subsequently introduce regulated stablecoin payment solutions. Under the premise of complying with relevant regulatory requirements, based on Virtue Insurance's planning, future plans aim to support customers in using HKDAP to pay premiums. Virtue Insurance expressed hope to actively explore the application of regulated Hong Kong dollar stablecoin HKDAP in insurance payment scenarios together with HashKey Exchange, striving to become one of the first insurance companies in Hong Kong to support regulated Hong Kong dollar stablecoin HKDAP for premium payments.

This use case aims to validate the enhancement of the premium payment experience from two aspects:

• Significantly improved settlement efficiency: Traditional premium payments require 2-3 working days to complete settlement confirmation, while HKDAP on-chain payments can achieve nearly real-time arrival, greatly shortening the processing cycle.
• Flexible and convenient payments: Customers can convert Hong Kong dollars to HKDAP through the HashKey Exchange platform, or use existing HKDAP balances, and then withdraw to a user wallet to pay premiums, making the overall operation simple and in line with online payment habits.

The application verification conducted by both parties around real use cases is an important practice for the entry of regulated Hong Kong dollar stablecoin into traditional financial service scenarios. By connecting stablecoin issuers, licensed trading platforms, and insurance institutions, HashKey Exchange further leverages its platform capabilities in connecting digital assets with traditional financial scenarios, promoting the expansion of regulated Hong Kong dollar stablecoins into more diverse financial services and real payment scenarios.

In the future, HashKey Exchange will continue to deepen cooperation with financial institutions and industry partners, exploring the application of HKDAP in scenarios such as insurance, corporate payments, and cross-border trade, driving the stablecoin ecosystem in Hong Kong to develop robustly.

About HashKey Exchange

HashKey Exchange is a digital asset exchange under the publicly listed company HashKey Holdings Limited (3887.HK), committed to defining a new benchmark for virtual asset exchanges in compliance, capital security, and platform safety. Hash Blockchain Limited (HashKey Exchange) is one of the first licensed retail virtual asset exchanges in Hong Kong. It has obtained approval from the Hong Kong Securities and Futures Commission (SFC) and holds licenses for Class 1 (securities trading), Class 7 (providing automated trading services) under the Securities and Futures Ordinance, as well as a license for operating a virtual asset trading platform under the Anti-Money Laundering Ordinance, compliant and licensed to operate a virtual asset trading platform. HashKey Exchange has obtained ISO 27001 (Information Security) and ISO 27701 (Data Privacy) management system certifications. To comply with laws and regulations, HashKey Exchange does not provide services to users from mainland China, the United States, and certain other jurisdictions.

HashKey Exchange news release and advertising standard terms and disclaimers

About Virtue Insurance

Virtue Insurance International Limited (« Virtue Insurance ») has major indirect shareholders* including Massachusetts Mutual Life Insurance Company (« US Virtue »), one of the top five life insurance companies in the United States with over 170 years of history, as well as Yunfeng Financial Holdings Limited, among others.

Virtue Insurance and Barings have long-term strategic partnerships. With our exceptional global investment strength, extensive cooperation networks, and strong momentum in fintech innovation, we maintain a leading position in the Hong Kong insurance industry.

*US Virtue and Yunfeng Financial Holdings Limited indirectly hold shares in Virtue Insurance.

**The "Top Five Life Insurance Companies in the United States" is calculated based on the combined revenue ranking of "Mutual Life Insurance Companies" and "Publicly Traded Life Insurance Companies" as published in the FORTUNE 500 on June 3, 2026.