Key facts
- Anchorpoint, a joint venture led by Standard Chartered Bank (Hong Kong), has launched its Hong Kong dollar-pegged stablecoin, HKDAP.
- HashKey Exchange and OSL Group are authorized distributors for the HKDAP stablecoin.
- The stablecoin is currently in a beta rollout for eligible institutions and professional investors.
- Anchorpoint plans to expand access to retail users by late 2026.
- Hong Kong's stablecoin licensing regime took effect on August 1, 2025.
Anchorpoint Financial, a Hong Kong-licensed stablecoin issuer and a joint venture including Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands, has launched its Hong Kong dollar-pegged stablecoin, HKDAP. The stablecoin is currently in a beta phase, with HashKey Exchange and OSL Group serving as authorized distributors for eligible institutional and professional investors. HashKey has already completed its first minting and redemption transactions. The company plans to expand distribution over time and explore additional uses for HKDAP, such as cross-border payments and tokenized finance. Hong Kong's stablecoin licensing regime, which requires issuers to obtain a license and meet specific standards, took effect on August 1, 2025. HSBC is also preparing to launch its own stablecoin. A Citi report estimates that Hong Kong dollar-backed stablecoins could reach $16 billion in circulation following the introduction of the licensing regime.