Standard Chartered-Backed Anchorpoint Rolls Out Hong Kong Dollar Stablecoin

Anchorpoint Financial, backed by Standard Chartered, has launched a limited rollout of its Hong Kong dollar-pegged stablecoin, known as HKDAP, four months after securing one of the city’s first stablecoin issuer licenses.

Institutional Access Comes First

The initial phase will focus on institutional payments and settlement, with plans to expand access channels and cross-border use cases over time. HashKey Exchange and OSL Group have joined as authorized distributors, allowing eligible institutions and professional investors to mint and redeem the token through supported platforms. HashKey confirmed it has already completed its first minting and redemption transaction involving conversions between the stablecoin and fiat currency.

Backing and Long-Term Plans

Anchorpoint is a joint venture involving Standard Chartered, Animoca Brands and HKT, and plans to expand HKDAP’s use into broader payments and settlement applications through its network of distributors and partners. The company said it could extend access to retail users as early as the end of this year.

Part of a Broader Regulatory Push

The launch comes under Hong Kong’s stablecoin licensing framework, which took effect in August 2025 and requires issuers to meet strict capital, reserve and governance standards. The city’s rules arrived ahead of similar legislation introduced in the United States. Other major financial institutions are also preparing their own stablecoin offerings in the region, reflecting growing competition in Hong Kong’s digital currency space.