17th August 2026
By Anjali Kochhar
Anchorpoint Financial has appointed HashKey Exchange as an authorized distributor for HKDAP, its Hong Kong dollar-backed stablecoin, marking another step in the city’s development of a regulated digital-asset market. The partnership will initially give eligible institutions and professional investors access to HKDAP as part of its beta rollout.
HashKey Joins HKDAP as Authorised Distributor
Under the agreement, HashKey will support the distribution, trading and related services for HKDAP, also known as “HKD At Par.” The exchange will provide access through its platform and other supported channels while Anchorpoint expands the stablecoin’s participation across the regulated financial ecosystem.
HashKey Completes First HKDAP Minting and Redemption
HashKey has already completed its first HKDAP minting and redemption transaction with eligible clients. The transaction included fiat on- and off-ramp capabilities, allowing users to convert traditional currency into HKDAP and subsequently redeem the stablecoin back into fiat. Anchorpoint and HashKey said the successful transaction provides an initial foundation for wider commercial applications.
HKDAP is designed to maintain a one-to-one value with the Hong Kong dollar and is intended for practical financial uses rather than simply speculative trading. Anchorpoint is exploring applications across payments, settlements and tokenized finance as the stablecoin moves through its phased rollout.
The distribution partnership is also part of Anchorpoint’s broader business-to-business-to-consumer strategy. Rather than providing access directly to every potential user, the company plans to work with authorized distributors and application partners to expand HKDAP’s reach. Anchorpoint has previously identified OSL as another authorized distributor.
Hong Kong Stablecoin Regulation Supports HKDAP Expansion
Anchorpoint received one of Hong Kong’s first stablecoin issuer licenses from the Hong Kong Monetary Authority in April 2026. The license followed the implementation of Hong Kong’s Stablecoins Ordinance, which established a regulatory framework for fiat-referenced stablecoins. Anchorpoint was established as a joint venture involving Standard Chartered Bank (Hong Kong), HKT and Animoca Brands.
For HashKey, the partnership adds another regulated digital-asset product to its institutional offering. The exchange holds licenses from Hong Kong regulators to operate a virtual asset trading platform and provide related regulated services. Its institutional infrastructure is expected to help connect HKDAP with financial institutions and other market participants.
The initial rollout remains restricted to eligible institutions and professional investors. Anchorpoint is expected to expand access progressively, with the company targeting broader adoption, including potential retail participation, later in 2026 depending on market conditions.
The partnership comes as Hong Kong seeks to establish itself as a regulated hub for digital assets and tokenized financial infrastructure. By combining Anchorpoint’s stablecoin issuance capabilities with HashKey’s regulated trading and distribution network, the two companies aim to move HKDAP beyond a digital token and toward practical use in payments, settlements and financial services.
