TLDR
- Standard Chartered-backed Anchorpoint prepares official HKDAP launch in Hong Kong.
- HKDAP will maintain full one-to-one backing with Hong Kong dollar reserves.
- Ethereum mainnet testing confirmed HKDAP issuance and transfer capabilities.
- Hong Kong stablecoin rules require segregated reserves and ongoing oversight.
- HKDAP supports Hong Kong’s regulated digital payments and blockchain strategy.
Standard Chartered-backed Anchorpoint is preparing to launch HKDAP in Hong Kong before the end of July. Local reports indicate the companies will announce HKDAP after completing regulatory and technical preparations. The launch will advance Hong Kong’s regulated stablecoin market under the city’s digital asset framework.
HKDAP launch advances after regulatory approval
Anchorpoint plans to introduce HKDAP after securing one of Hong Kong’s first stablecoin issuer licenses in April. The financial technology company operates with backing from Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands. The expected announcement will mark the transition from licensing into public issuance.
The Hong Kong Monetary Authority (MOU) approved Anchorpoint under the Stablecoins Ordinance earlier this year. The licensing framework requires issuers to maintain full reserve backing and strong custody standards.HKDAP will enter the market under clear regulatory requirements established for fiat-referenced stablecoins.
Anchorpoint previously stated that every HKDAP token will remain fully backed by Hong Kong dollar reserves. The company will hold those reserves in segregated accounts that satisfy regulatory obligations. The framework requires continuous reserve management, disclosures, and regulatory supervision throughout issuance.
Ethereum deployment supports commercial rollout
Anchorpoint completed an Ethereum mainnet transfer test in May before preparing the commercial launch. The trial involved licensed digital asset platform OSL Group and trading platform PantherTrade. Furthermore, the participants completed issuance, transfer, and settlement using production-ready blockchain infrastructure.
The successful test confirmed that HKDAP functioned on Ethereum without relying on a regulatory sandbox. The participating firms validated both the payment process and compliance structure during the exercise. As a result, the project moved closer to full commercial deployment following technical verification.
Anchorpoint selected Ethereum because the network supports broad compatibility across digital asset services.HKDAP can interact with existing wallets, exchanges and decentralized finance applications. The company also intends to maintain compliance with Hong Kong’s licensing rules while operating on the public blockchain.
Hong Kong expands its regulated stablecoin market
Anchorpoint previously outlined a business-to-business-to-consumer rollout strategy for HKDAP before wider market availability. The company intends to expand distribution gradually after the initial commercial phase. Meanwhile, the staged approach supports operational testing before broader adoption across payment services.
Hong Kong continues developing a regulated market for digital payment assets linked to the local currency. The Stablecoins Ordinance establishes requirements covering reserve assets, customer protection, and ongoing regulatory oversight. Authorities aim to create a structured environment for licensed stablecoin issuers operating within the jurisdiction.
The expected launch positions HKDAP among the earliest regulated Hong Kong dollar stablecoins available under the new framework. Standard Chartered-backed Anchorpoint now appears ready to begin the next stage of its regulated digital asset strategy. Besides supporting regulated blockchain payments, HKDAP also reflects Hong Kong’s broader effort to strengthen its licensed digital finance ecosystem.
