HKD stablecoin lifecycle
A digital HKD issuer keeps coins, reserve money, redemption requests, and HKD payouts aligned so every issued coin has a matched banking record.
Overview
A digital HKD issuer keeps coins, reserve money, redemptions, and HKD payouts aligned so the product can be trusted.
Use when a Hong Kong HKD stablecoin issuer needs reserve recognition, issuer authorization, controlled mint and release, circulation controls, redemption, burn, payout, publication, and assurance evidence to stay on one operating route.
Route coverage
- One Hong Kong HKD issuer lifecycle route from reserve recognition through assurance close
- Issuer authorization gates all supply changes before mint or release
- Circulation controls, transfer posture, and exception state stay visible after release
- Redemption does not close until intake, burn confirmation, HKD payout, and reconciliation agree
- Publication and assurance records are final close conditions, not after-the-fact attachments
Infrastructure
- Reserve statement, issuer approval, mint instruction, release log, transfer-control snapshot, redemption ticket, burn record, payout confirmation, reconciliation export, and publication record on one evidence spine
- Issuer, reserve-bank, token-operations, redemption, payout-bank, publication, and assurance roles remain separate and role-correct
- Operators can inspect route payloads, tables, evidence records, and close responses without losing stage context
- Final close reads as published and assurance-ready only after reconciliation and publication are satisfied
Lifecycle stages
| Stage | Flow steps |
|---|---|
| Issuer Perimeter Reserve Recognition | Record the issuer scope, reserve-bank statement, recognized HKD balance, and supply headroom before authorization opens; Keep issuer perimeter, reserve reference, and publication basis aligned on one lifecycle record |
| Issuance Authorization | Bind issuer authorization, reserve headroom, maker-checker state, and supply delta before mint is released; Keep authorization reference, amount, and reserve basis visible on one queue |
| Token Issue Controlled Release | Match mint receipt, release wallet, supply delta, and authorization reference before released supply becomes active; Keep wallet release and token-supply movement bound to the issuer authorization |
| Circulation Transfer Controls | Monitor transfer posture, allowlist state, hold events, supply variance, and exception limits after release; Keep circulation snapshots and restricted-wallet events visible before any redemption admission |
| Redemption Intake | Admit redemption only after holder reference, token availability, beneficiary readiness, and cut-off state are matched; Keep redemption ticket, token lock, and payout readiness visible before burn confirmation |
| Burn Confirmation | Confirm redeemed tokens are burned and supply is reduced before any HKD payout release; Keep burn confirmation, supply delta, and payout unlock state on one ledger |
| Hkd Payout Release | Release HKD payout only after burn, beneficiary checks, bank reference, and return-or-repair state are clear; Keep payout instruction, credit advice, and return posture visible before publication close |
| Publication Assurance Close | Close only after reserve, supply, burn, payout, publication, and assurance-ready records agree; Keep publication version, zero open breaks, and assurance-ready state visible as final close conditions |
Setup reference
| Field | Explanation |
|---|---|
| HKD reserve amount | Sets the recognized HKD reserve amount carried through authorization, release, redemption, payout, and close. |
| Release wallet | Identifies where issued units are released. Determines the wallet shown on the mint and release path. |
| Issue route | Sets the issuer-controlled route for reserve recognition, release, redemption, payout, and close. |
| Reserve currency | Fixed for this case. Scoped to HKD reserve backing. |
| Redemption wallet | Fixed for this case. Identifies the wallet allowed to return units for burn before HKD payout. |
| HKD payout route | Fixed for this case. Identifies where redemption proceeds are paid after burn and beneficiary checks. |