22th July 2026
By Shubhii Verma
HKDAP Stablecoin to Launch Under Regulatory Oversight
Hong Kong’s digital asset ecosystem could reach another milestone this month with the expected launch of HKDAP, a Hong Kong dollar-pegged stablecoin backed by a consortium led by Standard Chartered Bank (Hong Kong). According to local reports, the regulated stablecoin may begin trading as early as July 31, 2026, making it one of the first Hong Kong dollar-backed stablecoins introduced under the city’s newly implemented stablecoin licensing regime.
The stablecoin will be issued by Anchorpoint Financial Limited, a joint venture formed by Standard Chartered Bank (Hong Kong), telecommunications company HKT, and Web3 firm Animoca Brands. In April 2026, Anchorpoint became one of the first companies to receive a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA) under the Stablecoins Ordinance, paving the way for the commercial rollout of HKDAP.
B2B2C Distribution Model
Unlike many digital asset projects targeting retail users directly, Anchorpoint plans to distribute HKDAP through a business-to-business-to-consumer (B2B2C) model. The company intends to work with banks, payment providers, fintech firms, and other established financial institutions to integrate the stablecoin into existing payment and financial services.
HKDAP enters a stablecoin market that remains overwhelmingly dominated by U.S. dollar-backed tokens such as Tether (USDT) and USD Coin (USDC). A regulated Hong Kong dollar stablecoin offers an alternative for businesses and financial institutions seeking to settle transactions, facilitate cross-border payments, or participate in tokenized financial services using a currency linked to the Hong Kong dollar.
Regulatory Requirements and Compliance Standards
Hong Kong’s stablecoin licensing framework introduces strict regulatory requirements designed to enhance market confidence. Licensed issuers must maintain high-quality reserve assets fully backing outstanding stablecoins, guarantee redemption at par value, and comply with comprehensive anti-money laundering (AML), customer verification, and risk management standards.
HKMA Chief Executive Eddie Yue previously described the first stablecoin licenses as the beginning of a broader regulated digital asset ecosystem rather than a one-time regulatory initiative. Authorities expect licensed stablecoins to support practical financial applications beyond cryptocurrency trading, including domestic payments, international settlements, and the tokenization of financial assets.
The market will now closely watch whether HKDAP launches before the end of July as anticipated. Industry participants will also monitor how quickly Anchorpoint expands adoption through its institutional distribution strategy and whether exchanges, payment companies, and commercial banks integrate the stablecoin into their services.
Another key development will be the planned launch of HSBC’s Hong Kong dollar stablecoin, which could further accelerate competition and adoption within the city’s regulated digital asset market. Together, these initiatives reinforce Hong Kong’s ambition to establish itself as one of the world’s leading hubs for blockchain innovation and regulated digital finance.
