TLDR
-
Anchorpoint launches HKDAP Stablecoin for regulated institutional payments.
-
HKDAP targets cross-border payments and tokenized asset settlement in Hong Kong.
-
HashKey joins the rollout after completing an HKDAP mint and redemption test.
-
Ethereum testing prepared HKDAP for live institutional distribution in August.
-
Hong Kong’s stablecoin rules support HKDAP’s regulated market introduction.
Anchorpoint Financial has launched the first phase of its HKDAP Stablecoin rollout for institutional payments and tokenized asset settlement. The Hong Kong dollar-backed token now enters live use after months of testing and regulatory preparation. The rollout gives approved institutions access to regulated digital money within Hong Kong’s new stablecoin framework.
HKDAP Stablecoin Begins Institutional Rollout
Anchorpoint is introducing HKDAP Stablecoin through selected distributors instead of offering direct public access. The model allows approved partners to support minting, redemption, payments, and fiat conversion for institutional clients. HashKey Exchange has joined the rollout and completed an initial HKDAP minting and redemption transaction.
The first phase targets cross-border payments and settlement for tokenized real-world assets across regulated financial channels. Authorized distributors will connect corporate users and professional market participants with HKDAP-to-fiat conversion services. This structure keeps distribution within Anchorpoint’s licensed framework while supporting practical commercial use cases.
Each HKDAP Stablecoin maintains a one-to-one value with the Hong Kong dollar through eligible reserve assets. Anchorpoint holds those reserves under requirements set by the Hong Kong Monetary Authority. The reserve structure supports redemption while keeping the token linked directly to Hong Kong dollar liquidity.
Ethereum Testing Prepared HKDAP for Live Use
Anchorpoint completed a full HKDAP Stablecoin transaction test on Ethereum Mainnet during May 2026. The exercise covered fiat funding, reserve management, token issuance, blockchain transfers, and final redemption. OSL Group and PantherTrade also participated in the live infrastructure test.
Standard Chartered’s banking system handled the Hong Kong dollar funding before Anchorpoint issued the corresponding digital tokens. Participants then transferred HKDAP across Ethereum before completing redemption through the regulated banking process. The test showed how bank infrastructure and blockchain settlement could operate within one transaction cycle.
The May exercise followed earlier preparation involving OSL Group and Futu-backed market participants. Anchorpoint used those tests to prepare HKDAP Stablecoin for controlled institutional distribution. The August rollout marks the token’s transition from technical testing into active commercial deployment.
Hong Kong Builds Regulated Stablecoin Market
Hong Kong’s Stablecoins Ordinance took effect on August 1, 2025 and introduced a licensing system for fiat-backed stablecoins. The framework covers reserve assets, redemption, governance, risk controls, and anti-money laundering requirements. Anchorpoint submitted its license application on the same day the law became effective.
The HKMA granted Anchorpoint its issuer license in April 2026 alongside HSBC under the new regime. Anchorpoint had already developed the HKDAP Stablecoin project through the regulator’s stablecoin sandbox. Standard Chartered, HKT, and Animoca Brands formed Anchorpoint in February 2025 to advance that work.
Standard Chartered contributes banking infrastructure, while HKT adds payment and telecommunications capabilities to the venture. Animoca Brands brings digital asset expertise and experience with blockchain-based financial applications. Together, the partners are positioning HKDAP Stablecoin for payments, trade finance, and tokenized asset settlement.
