Standard Chartered Distributes Hong Kong's First Regulated HKDAP Stablecoin

Standard Chartered Bank Hong Kong has become the first conventional bank to distribute a regulated Hong Kong dollar stablecoin, marking a significant step in the territory's efforts to develop a local alternative to dollar-pegged digital tokens. The bank announced on August 24, 2026, that it is now an authorized distributor for HKDAP, a token issued by Anchorpoint Financial under a license from the Hong Kong Monetary Authority.

The move transitions HKDAP from a niche experiment accessible only through cryptocurrency exchanges into a product with a mainstream banking channel. Previously, access was limited to institutional clients and professional investors via crypto platforms HashKey Exchange and OSL, which began offering beta access earlier in August. Standard Chartered's entry provides a more conventional on-ramp for eligible corporate and institutional clients to convert Hong Kong dollars into the stablecoin and redeem them for fiat currency.

HKDAP, short for "HKD At Par," is designed to maintain a value of HK1 per token. It operates on the Ethereum blockchain and is issued by Anchorpoint Financial, a joint venture established in February 2025 by Standard Chartered, HKT, and...