Anchorpoint, supported by Standard Chartered, is getting ready to release its Hong Kong dollar stablecoin, called HKDAP. An official announcement is anticipated before the end of July, reports local news.
Summary
- Standard Chartered and Anchorpoint are expected to announce the launch of the Hong Kong dollar stablecoin HKDAP within the next two weeks, according to local media.
- HKDAP received one of Hong Kong’s first stablecoin issuer licenses in April and will be backed one to one by Hong Kong dollar reserves.
- The stablecoin completed a successful Ethereum mainnet transfer test in May ahead of its planned public rollout.
Reports say Standard Chartered Bank (Hong Kong) and Anchorpoint Financial Technology will likely launch HKDAP, a stablecoin linked to the Hong Kong dollar, in the next two weeks.
According to the report, the launch will be handled by Anchorpoint, a company that was among the first to be granted a stablecoin license by Hong Kong’s financial regulator (HKMA) back in April.
If approved, this news means the project can begin offering its services to the public, following a period of extensive technical work and after meeting Hong Kong’s requirements for stablecoins.
HKDAP moves toward issuance
Anchorpoint is a partnership between Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands. After receiving approval as one of the first stablecoin issuers in Hong Kong in April, Anchorpoint announced plans to gradually launch HKDAP, a stablecoin pegged to the Hong Kong dollar, starting in the second quarter of 2026, in accordance with the new Stablecoins Ordinance.
Anchorpoint previously stated that each HKDAP token would be equivalent to one Hong Kong dollar, with those dollars securely stored in separate accounts. This backing adheres to guidelines set by the Hong Kong Monetary Authority (HKMA) for stablecoins linked to traditional currency.
The company previously announced that HKDAP would initially launch as a business-to-business-to-consumer service, then become more widely available.
Ethereum testing completed before launch
The launch is planned after a successful test on the Ethereum network in May. This test involved Anchorpoint, OSL Group (a licensed digital asset platform), and PantherTrade, a trading platform supported by Futu Holdings.
People who took part in the test showed that Hong Kong digital currency (HKDAP) can be issued, sent, and finalized on Ethereum’s blockchain using systems ready for real-world use – not just a testing environment. A representative involved explained that this transfer confirmed the technology works as expected and meets regulatory requirements before it’s made available to the public.
Anchorpoint explained that launching HKDAP on Ethereum will make it work seamlessly with current digital wallets, exchanges, and DeFi apps, all while still following the financial rules and regulations of Hong Kong.
As a researcher following developments in digital finance, I’ve been observing Hong Kong’s push to create a regulated stablecoin linked to the Hong Kong dollar. This initiative is part of a broader trend across Asia where countries are building frameworks for licensed stablecoins. Just recently, the HKMA – Hong Kong’s monetary authority – granted the first licenses to Anchorpoint and HSBC. These licenses come with strict requirements: issuers must fully back their stablecoins with reserves, keep customer assets separate, and remain under ongoing regulatory oversight.
2026-07-20 10:13