5th August 2026
By Shubhii Verma
HKDAP Becomes One of Hong Kong’s First Regulated Stablecoins
Standard Chartered-backed Anchorpoint Financial is preparing to launch its Hong Kong dollar-pegged stablecoin, HKDAP, in August after missing earlier rollout targets set for the second quarter and the end of July. The project remains one of the first regulated stablecoins to be introduced under Hong Kong’s new stablecoin licensing framework.
According to Mary Huen, CEO of Standard Chartered Hong Kong and Greater China & North Asia, the company expects to make an official announcement regarding HKDAP during August. She noted that development has continued steadily since Anchorpoint received its stablecoin issuer licence from the Hong Kong Monetary Authority (HKMA) in April.
Anchorpoint is a joint venture backed by Standard Chartered (Hong Kong), HKT, and Animoca Brands. It was among the first two entities approved under Hong Kong’s Stablecoins Ordinance, which establishes strict rules for reserve management, customer protection, and compliance for fiat-backed stablecoins.
Although the launch timeline has shifted, Anchorpoint has continued testing its blockchain infrastructure to prepare the stablecoin for commercial use. The company is focusing on cross-border payments and tokenised assets as its primary applications. Executives believe HKDAP can provide businesses with a faster and more efficient settlement option by reducing the delays and costs often associated with traditional international payment systems.
The stablecoin will be backed on a one-to-one basis by Hong Kong dollar reserves held in segregated accounts, in line with HKMA requirements. Earlier this year, Anchorpoint successfully completed an Ethereum mainnet transaction test alongside licensed virtual asset platform OSL Group and trading platform PantherTrade. The trial demonstrated the issuance, transfer, and settlement of HKDAP using production-ready blockchain infrastructure rather than a regulatory sandbox environment.
Anchorpoint Plans Institutional-First Distribution Strategy for HKDAP
Unlike many retail-focused stablecoins, HKDAP will initially follow a business-to-business-to-consumer (B2B2C) distribution model. Instead of issuing tokens directly to the public, Anchorpoint will work with approved distribution partners that will provide HKDAP to corporate and institutional clients. The target user base includes small and medium-sized enterprises, traders, financial institutions, fund managers, service providers, and eventually individual users.
While industry reports have speculated that licensed exchanges such as OSL Group and HashKey Exchange could become early distribution partners, Anchorpoint has not confirmed any names. Huen stated that the official list of authorised distributors will be announced after the commercial launch of HKDAP.
Hong Kong continues to position itself as a leading regulated digital asset hub through its stablecoin framework. Regulators have received significant interest from prospective issuers but have granted only a limited number of licences during the initial phase. With HKDAP expected to launch soon, the project could become one of the first fully regulated Hong Kong dollar stablecoins to support cross-border payments, tokenised finance, and broader blockchain-based financial services.
