Anchorpoint Financial has started the first phase of its HKDAP stablecoin rollout, making the Hong Kong dollar-backed token available through beta access to institutional distributors and professional investors. The launch on Wednesday follows months of testing and regulatory preparation under Hong Kong’s stablecoin framework.
Anchorpoint is a joint venture formed in February 2025 by Standard Chartered, HKT, and Animoca Brands. It was among the first two firms to receive a stablecoin issuer license from the Hong Kong Monetary Authority in April 2026, alongside HSBC, after the regulator said it had received 36 applications.
The initial focus for HKDAP is cross-border payments and the settlement and distribution of tokenized real-world assets. Authorized distributors will support minting, redemption, payments, and fiat conversion for institutions, corporate users, and professional investors. Anchorpoint is not offering direct public access in this phase.
HashKey Exchange, Hong Kong's largest licensed digital asset exchange, joined the rollout as a distribution partner and completed its first HKDAP minting and redemption transaction. Anchorpoint CEO Dominic Maffei said the company is encouraged by strong market interest and looks forward to broadening adoption of HKDAP and contributing to Hong Kong's digital asset ecosystem.
The launch follows a May 2026 test on Ethereum Mainnet involving OSL Group and PantherTrade. That exercise covered the full lifecycle of HKD fiat funding into reserve assets through Standard Chartered's banking infrastructure before tokens were minted, transferred, and fully redeemed. The test demonstrated how banking and blockchain settlement can operate within one transaction cycle.
Each HKDAP stablecoin maintains a one-to-one value with the Hong Kong dollar through eligible reserve assets held under requirements set by the Hong Kong Monetary Authority. Hong Kong's Stablecoins Ordinance took effect on August 1, 2025, requiring stablecoin issuers to obtain a license from the HKMA. Anchorpoint submitted its license application on the same day the law became effective and received its issuer license in April 2026.
