Continue from previous post, Cryptomover aims to be the most professional and transparent digital asset index fund and was working on issuing ETF on stellar network. While the two ETF products will be available in an initial coin offering in early November, we are more than happy to announce that our testing product: HKDC is officially launched and now available to trade on stellar exchanges. HKDC is a Stellar asset that has the value of Hong Kong Dollars, a fiat currency used in Hong Kong and somewhere else in Southeast Asia. 1 HKDC = 1 HKD and is backed by Cryptomover. For all the HKDC holders you can sell it on Stellar exchanges for other assets. Cryptomover will be constantly putting buy orders and sell orders between HKDC and XLM in order to boost the liquidity of this asset. You can also redeem it from us for actual Hong Kong dollars. We can give it to you through wire transfer or cash if you are in Hong Kong. Currently we are only putting very small orders on Stellar public network, if you want large quantities of HKDC, please leave comments below and we will put bigger orders for you. The current buy and sell orders are available here: https://stellarterm.com/#exchange/HKDC-cryptomover.com/XLM-native Cheers

Launching of the first Cryptomover Product: HKDC

bkolobara

Great job!

It would be useful if you could describe into details who we need to contact to transform our HKDC into a wire transfer. Even better if there is a federated address (like RippleFox) bank_account*your_anchor.com. So moving HKD on and off Stellar is easy as possible for small amounts.

Fanbingxia

bkolobara Working on that, thanks for your feedback.

fiatjaf

This is really serious. I hope I was in Hong Kong to try to get cash out of it.

gav

Hi @fiatjaf, we want to be the go to Anchor (Basecoin like) product for Hong Kong Dollar. What we know is this:
1) HKD is freely traded
2) It is pegged to USD
3) HKMA (the regulator - has said that virtual currency is a virtual commodity)

ellaqiang

Hey guys, great job! One critical consideration for users of the Stellar exchange or for centralized exchange such as Huobi to support and trade HKDC would be around transparency of your treasury situation. Tether sort of gets by with early entrance, but for new entrants perhaps would be under more strict scrutiny for people to get comfortable around it.

Overall, I think the demand for HKDC is definitely strong.

gav

Thank you!