Anchorpoint Financial Limited, a venture backed by Standard Chartered, has launched its Hong Kong dollar stablecoin HKDAP, beginning a phase 1 institutional rollout on August 12, 2026 for professional investors under Hong Kong’s new licensing regime.
Anchorpoint said it began the phase 1 rollout of HKDAP via Beta Access, initially targeting institutional distributors and professional investors, according to its launch announcement. The company said broader retail adoption remains targeted as early as end-2026, subject to market conditions. For related coverage, see Standard Chartered Predicts Bitcoin May Hit $500,000.
HKDAP has a par value of HK$1.00 each and is redeemable 1:1 for Hong Kong dollars, with the token available on Ethereum Mainnet during Beta Access. The venture, which lists Standard Chartered, HKT and Animoca Brands among its backers, holds stablecoin issuer licence number FRS01. For related coverage, see Animoca Brands Partners on HKD Stablecoin Project.
Why Standard Chartered’s backing raises the stakes
Standard Chartered’s involvement distinguishes HKDAP from smaller, unaffiliated stablecoin projects that lack a global bank in their ownership structure. The same consortium applied jointly for a Hong Kong stablecoin licence alongside Animoca Brands and HKT.
Institutional backing tends to draw closer attention from regulators, distributors and professional investors than a token issued by an unknown team. That credibility signal matters more given Anchorpoint is opening HKDAP first to institutional distributors rather than retail users.
The venture builds on earlier collaboration across Hong Kong’s digital asset firms, including Animoca Brands’ work on the HKD stablecoin project. Standard Chartered has separately pushed into tokenization, joining Polygon and AlloyX on a tokenized fund.
How HKDAP fits Hong Kong’s regulated stablecoin push
Hong Kong’s Stablecoins Ordinance took effect on August 1, 2025, creating a licensing regime for fiat-referenced stablecoins. The Hong Kong Monetary Authority granted issuer licences to Anchorpoint and The Hongkong and Shanghai Banking Corporation on April 10, 2026, with the licences taking effect that day.
A Hong Kong dollar-denominated token ties the launch directly to the local financial system, positioning HKDAP for use cases such as payments, settlement and on-chain liquidity within a regulated framework. That local-currency focus contrasts with the dominance of US dollar stablecoins, where Tether alone holds a market cap near $183 billion.
Before the rollout, OSL and Anchorpoint said on May 13, 2026 that they completed HKDAP test transfers on Ethereum Mainnet and that all HKDAP used in the tests was fully redeemed afterward, according to a joint statement. The live mainnet testing underpins the B2B2C distribution model now going into institutional hands.
Competition is building. HSBC said on April 10, 2026 that it plans to launch its own HKD-denominated stablecoin in the second half of 2026 and integrate it into PayMe and the HSBC HK App, reaching over 3.3 million PayMe users.
The launch arrives during a cautious market. The Crypto Fear & Greed Index sat at 27, in “Fear” territory, on August 12, 2026, while jurisdictions from Hong Kong to mainland China weigh their approaches; Beijing has instead rejected a yuan stablecoin in favor of the e-CNY.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
