A Hong Kong dollar stablecoin backed by a Standard Chartered-led venture is preparing to begin trading as early as July 31, 2026, introducing a rare regulated digital currency pegged to something other than the US dollar. The token, named HKDAP (Hong Kong Dollar At Par), is being issued by Anchorpoint Financial Limited, a joint venture between Standard Chartered Bank (Hong Kong), telecommunications firm HKT, and Web3 company Animoca Brands.
The Hong Kong Monetary Authority (HKMA) awarded a stablecoin issuer license to Anchorpoint on April 10, 2026, under the region’s new Stablecoins Ordinance. This makes Anchorpoint one of the first licensed issuers alongside HSBC, which is planning its own Hong Kong dollar stablecoin. The regulatory framework mandates full one-to-one backing with high-quality reserve assets, segregated accounts, and continuous oversight, raising the bar for stablecoin operations.
HKDAP enters a market where over $310 billion in stablecoin value is almost entirely dominated by US dollar-pegged tokens, with Tether (USDT) holding about 59% and USD Coin (USDC) around 24%. By offering a regulated alternative, the project aims to support international and domestic payments, settlement, and tokenized assets, reinforcing Hong Kong’s ambition to become a leading digital asset hub.
Anchorpoint has already completed a successful Ethereum mainnet test with licensed partners OSL Group and PantherTrade, confirming issuance, transfer, and compliance processes. The company intends to roll out HKDAP using a business-to-business-to-consumer (B2B2C) model, gradually scaling distribution through reputable firms. If the launch proceeds as planned, it will mark the transition from licensing to live issuance and test real-world demand for a regulated non-dollar stablecoin.
