Digital asset firm IDA has launched a stablecoin accelerator program, as Hong Kong’s stablecoin bill is set to take effect next month.
Applications for the program backed by Octopus, powered by XDC Network as its Web3 infrastructure partner, opened on Tuesday.
IDA said the collaboration aims to develop customer reward schemes using stablecoins, catering to emerging demand and helping small and medium-sized enterprises discover new revenue streams.
The program seeks to upgrade Octopus' traditional closed-loop system into a compliant, Web3-powered global ecosystem, IDA said.
Octopus said it is taking an advisory role in this conceptual accelerator to explore next-generation Web3 loyalty solutions.
Selected startups will receive strategic mentorship from IDA and may be eligible for funding from XDC.
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