17th August 2026
By Shubhii Verma
Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer backed by Standard Chartered, Animoca Brands and HKT, has begun the institutional rollout of its Hong Kong dollar-backed stablecoin, HKDAP, marking another step in the city’s efforts to establish itself as a regulated digital-asset hub.
The company announced on August 12 that it had launched the first phase of HKDAP through beta access, allowing selected distributors and users to begin integrating the stablecoin into commercial applications. HKDAP, short for “Hong Kong dollar at par,” is designed to maintain a one-to-one value with the Hong Kong dollar.
Anchorpoint Targets Institutions With HKDAP Rollout
The initial rollout is focused on institutions, corporate users and professional investors rather than the broader retail market. Authorised distributors will be able to facilitate conversions between HKDAP and fiat currency, giving businesses an additional option for digital payments and settlement.
Anchorpoint said retail availability could begin as early as the end of 2026, depending on market conditions and the development of the wider ecosystem.
Hong Kong’s Stablecoin Regulations Shape HKDAP Launch
The launch comes as Hong Kong continues implementing its regulated framework for fiat-backed stablecoins. The city’s Stablecoins Ordinance came into effect on August 1, 2025, establishing licensing and regulatory requirements for companies issuing stablecoins linked to fiat currencies.
The Hong Kong Monetary Authority (HKMA) granted the first stablecoin issuer licences in April 2026 to HSBC and Anchorpoint. The approvals marked an important milestone in the development of Hong Kong’s regulated digital-asset market, although authorities have maintained a cautious approach to expanding the sector.
Anchorpoint is using a business-to-business-to-consumer model for HKDAP. Rather than distributing the stablecoin directly to individual users, the company plans to work through authorised partners and distributors. This approach is intended to expand the number of businesses and applications that can use HKDAP while maintaining regulatory oversight.
The company said its immediate priority is developing practical applications for regulated tokenised money, particularly in payments and settlement. Stablecoins could potentially enable faster and more flexible transactions, especially for businesses operating across borders and markets.
Anchorpoint CEO and co-founder Dominic Maffei said the company has seen strong interest from market participants and plans to work with partners to expand HKDAP adoption.
HKDAP and HSBC Stablecoin Set Up Hong Kong Competition
The rollout also places Anchorpoint in direct competition with HSBC, which has said it plans to introduce its own Hong Kong dollar-linked stablecoin during the second half of 2026.
For Hong Kong, the emergence of multiple regulated stablecoins could strengthen the city’s digital financial infrastructure. As banks, technology companies and financial institutions experiment with tokenised money, stablecoins could increasingly become part of payment, settlement and tokenised-asset markets.
However, the pace of adoption will depend on regulatory developments, institutional demand and the ability of issuers to demonstrate real-world commercial use cases.
