Payward Picks Hong Kong as Asian Stablecoin Gateway

Payward, the parent company of US-based cryptocurrency exchange Kraken, has chosen Hong Kong as its gateway to Asia for stablecoins.

This decision stems from Hong Kong's unique positioning as a global financial hub with regulatory clarity and multi-currency advantages.

The city's legacy banking networks and SWIFT system often have limitations in regions such as Africa and Latin America, where businesses may experience weekend delays in accessing capital.

Peter Sethi, Co-CEO of Payward, emphasized that these structural gaps can disrupt supply chains and result in significant losses for agricultural producers in Latin America, who may waste up to 20% of their goods due to delayed payments.