Anchorpoint Launches HKDAP Stablecoin for Institutional Users

Anchorpoint Financial, a joint venture led by Standard Chartered, has begun the phased rollout of its Hong Kong dollar-backed stablecoin, HKDAP, launching beta access for institutional users on Wednesday, August 12, 2026. The move marks the first controlled distribution of a regulated stablecoin under Hong Kong's licensing regime, which took effect one year ago.

The initial phase targets institutional distributors, corporate users, and professional investors, focusing on cross-border payments, fiat conversion, and the settlement of tokenized real-world assets. Authorized distributors will handle the conversion between HKDAP and fiat currencies, providing a regulated pathway for minting, redeeming, and using the stablecoin. HashKey Exchange, Hong Kong's largest licensed digital asset exchange, has joined as a distribution partner and completed its first HKDAP minting and redemption transaction as part of the release.

HKDAP, which stands for Hong Kong Dollar At Par, is designed to maintain a one-to-one value with the Hong Kong dollar and is backed by eligible high-quality reserve assets in accordance with city requirements. The rollout follows Anchorpoint's receipt of one of Hong...