Standard Chartered-backed Anchorpoint Financial Technology has officially launched its Hong Kong dollar stablecoin HKDAP this month, as reported by local media. The project received one of Hong Kong's first stablecoin issuer licenses from the Hong Kong Monetary Authority (HKMA) in April 2026, positioning it as one of the first companies to gain regulatory approval under the jurisdiction's new framework. Anchorpoint stated that it is proceeding with preparatory work for the phased issuance of HKDAP as planned and will announce the latest updates at an appropriate time.
Licensed virtual asset trading platforms are expected to serve as distributors for HKDAP, with OSL Group (0863) and HashKey Exchange among the platforms preparing to offer the stablecoin to customers. This distribution network will enable HKDAP to reach a broader user base through established digital asset platforms that have already obtained regulatory approval under Hong Kong's virtual asset framework.
Each HKDAP token will be backed one-to-one by high-quality Hong Kong dollar reserves held in segregated accounts, following HKMA requirements for fiat-referenced stablecoins. The stablecoin completed a successful Ethereum mainnet transfer test in May involving Anchorpoint, licensed digital asset platform OSL Group, and PantherTrade, a trading platform backed by Futu Holdings. This test demonstrated that HKDAP could be issued, transferred, and settled on Ethereum's public blockchain using production-ready infrastructure.
Anchorpoint is a joint venture backed by Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands. The company initially announced plans to begin issuing HKDAP in phases during the second quarter of 2026 under Hong Kong's Stablecoins Ordinance. The stablecoin will follow a business-to-business-to-consumer (B2B2C) rollout model before expanding to wider use, allowing interoperability with existing wallets, exchanges, and decentralized finance applications while maintaining regulatory oversight.
