Two major developments in Asian crypto markets surfaced on August 3, 2026. Anchorpoint Financial, backed by Standard Chartered, has pushed the public launch of its Hong Kong dollar stablecoin HKDAP into August, while South Korea’s Bithumb exchange unveiled a detailed roadmap toward a 2028 initial public offering.
HKDAP rollout moved to August
Anchorpoint had previously targeted a second-quarter and then a late-July launch for the fully regulated stablecoin. Standard Chartered Hong Kong CEO Mary Huen said an official announcement is now expected within August. The delay underscores the complexity of preparing a fiat-referenced stablecoin under Hong Kong’s newly enforced Stablecoins Ordinance. Anchorpoint, which received its issuer license from the Hong Kong Monetary Authority (HKMA) in April, continues to test public blockchain infrastructure, including Ethereum mainnet transfers completed in May alongside OSL Group and PantherTrade. The project will follow a business-to-business-to-consumer (B2B2C) model, with approved distributors—potentially including OSL and HashKey Exchange—introducing HKDAP to corporate and institutional clients. Each token is backed 1:1 by Hong Kong dollar reserves held in segregated accounts, and primary use cases are cross-border payments and tokenized assets.
Bithumb sets three-year IPO plan
Separately, Bithumb laid out a timeline to complete its public listing. The exchange aims to finalize its conversion from K-GAAP to K-IFRS financial reporting and strengthen internal controls by 2026, submit a preliminary listing application in 2027, and complete the IPO in 2028. It has engaged major accounting firms, spun off Bithumb Asset to clarify business structures, and committed to regular disclosures of financials and crypto holdings. The preparations, which follow a KRW 210 million fine for privacy breaches involving Stellar and BingX data transfers, are part of a governance overhaul intended to bolster transparency and customer trust. Bithumb’s IPO ambitions come as South Korean lawmakers debate the Digital Asset Basic Act, which could cap exchange ownership stakes and reshape the industry landscape.
