Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin

On August 12, 2026, Anchorpoint Financial, a joint venture of Standard Chartered, HKT, and Animoca Brands, launched the institutional beta phase of its HKDAP stablecoin. Pegged 1:1 to the Hong Kong dollar, HKDAP is distributed via partners like HashKey Exchange and OSL Group for cross-border payments and asset settlement. This rollout follows Hong Kong's 2025 stablecoin framework, with retail expansion planned for late 2026.

HKDAP stablecoin institutional rollout

• ▪The August 12, 2026 rollout of HKDAP followed a delay from its original target launch timeline of the second quarter of 2026.
• ▪Anchorpoint Financial began the phased rollout of its Hong Kong dollar-backed stablecoin, HKDAP, via beta access to institutional distributors and professional investors on August 12, 2026.
• ▪The initial phase of the HKDAP rollout focuses on cross-border payments, trade finance, and the settlement and distribution of tokenized real-world assets.
• ▪Each HKDAP token is pegged 1:1 to Hong Kong dollar reserves held in segregated accounts in compliance with Hong Kong Monetary Authority regulations.

Anchorpoint Financial issuer license

• ▪Anchorpoint Financial received its stablecoin issuer license from the Hong Kong Monetary Authority on April 10, 2026, alongside HSBC.
• ▪Anchorpoint Financial was one of the first two firms to receive a stablecoin issuer license under Hong Kong's Stablecoins Ordinance, which took effect on August 1, 2025.

Standard Chartered Animoca joint venture

• ▪Anchorpoint Financial operates under a business-to-business-to-consumer model, distributing HKDAP through authorized partners rather than selling tokens directly to retail users.
• ▪Anchorpoint Financial was established in February 2025 as a joint venture among Standard Chartered Bank, telecommunications company HKT, and Web3 investment firm Animoca Brands.

HashKey Exchange authorized distributor

• ▪HashKey Exchange completed its first minting and redemption transaction for the HKDAP stablecoin, including conversions between HKDAP and fiat currency, on August 12, 2026.
• ▪HashKey Exchange joined the HKDAP rollout as an authorized distribution partner on August 12, 2026, to facilitate token distribution, trading, and conversion services.

OSL Group distribution partnership

• ▪Anchorpoint Financial and OSL Group completed a test of HKDAP on the Ethereum Mainnet in May 2026, covering the full lifecycle of minting, transferring, and redeeming tokens.
• ▪OSL Group joined the HKDAP rollout as an authorized distributor on August 12, 2026, enabling eligible institutional and professional investors to obtain the stablecoin.

Planned retail expansion timeline

• ▪HSBC, the other initial stablecoin licensee in Hong Kong, is preparing its own stablecoin for launch in the second half of 2026.
• ▪Anchorpoint Financial plans to expand access to the HKDAP stablecoin to retail users as early as the end of 2026, subject to market conditions.