Anchorpoint begins regulated HKDAP stablecoin rollout in Hong Kong

Anchorpoint Financial, a joint venture between Standard Chartered, Animoca Brands, and HKT, has launched beta access for its Hong Kong dollar-backed stablecoin, HKDAP. Authorized distributors HashKey Exchange and OSL Group are facilitating initial minting, redemption, and fiat conversions for institutional and professional investors. The rollout follows Hong Kong's stablecoin licensing regime established in 2025, with retail expansion planned as early as late 2026.

HKDAP stablecoin beta launch

• ▪Standard Chartered-led Anchorpoint Financial launched beta access for its Hong Kong dollar-backed stablecoin, HKDAP, on August 12, 2026.
• ▪Anchorpoint Financial is a joint venture formed by Standard Chartered, Animoca Brands, and HKT.
• ▪HKDAP, which stands for 'Hong Kong dollar at par,' operates on public blockchain infrastructure under a business-to-business-to-consumer model.

Hong Kong stablecoin licensing regime

• ▪Hong Kong's stablecoin licensing rules took effect on August 1, 2025, requiring issuers to meet capital, reserve, and governance standards.
• ▪The Hong Kong Monetary Authority issued its first stablecoin licenses to Anchorpoint Financial and HSBC in April 2026.

Authorized distributor partnerships

• ▪HashKey Exchange completed its first minting and redemption transaction for the HKDAP token, including conversions between HKDAP and fiat currency.
• ▪HashKey Exchange and OSL Group joined Anchorpoint Financial as authorized distributors to support HKDAP distribution, trading, and conversion services.

Institutional investor access

• ▪The initial phase of the HKDAP rollout enables authorized distributors to offer conversions between HKDAP and fiat currency for institutions, corporate users, and professional investors.
• ▪Anchorpoint Financial plans to focus the initial rollout of HKDAP on payments, settlement, and other commercial applications.

Retail expansion timeline

• ▪The expansion of HKDAP to retail users by late 2026 is designed to target broader financial applications and maximize ecosystem participation.
• ▪Anchorpoint Financial plans to expand HKDAP access to retail users as early as the end of 2026, subject to market conditions.

Competitive stablecoin landscape

• ▪HSBC, the other initial stablecoin licensee in Hong Kong, is preparing its own stablecoin for the second half of 2026.
• ▪Kraken parent Payward expanded its Hong Kong stablecoin operations through a $600 million agreement to acquire stablecoin payments firm Reap Technologies.