Standard Chartered-Backed Anchorpoint Starts Institutional HKDAP Rollout
Hong Kong’s Stablecoins Ordinance took effect on Aug. 1, 2025, creating a licensing regime for fiat-referenced tokens and requiring issuers to maintain at least HK$25 million in paid-up capital. Anchorpoint Financial, formed by Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, designed HKDAP as a regulated settlement asset for payments and tokenised markets. Each token is redeemable for one Hong Kong dollar and fully backed by high-quality, liquid reserves held separately from the issuer’s operating assets.
Anchorpoint began the phased rollout of HKDAP on Aug. 12, 2026, initially limiting access to corporates and professional investors through authorised distributors, including licensed digital-asset platforms OSL and HashKey. The company received HKMA licence FRS01 on April 10, one of Hong Kong’s first two stablecoin approvals. It had completed minting, transfer and full-redemption tests on the Ethereum mainnet in May with OSL and Futu-backed PantherTrade. Retail access is expected by the end of 2026 as distribution, custody and compliance systems are expanded.
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3 original reportsThe Backstory
The history behind this eventAnchorpoint Targets July Launch for Regulated HKDAP Stablecoin
Anchorpoint Financial, a joint venture backed by Standard Chartered Hong Kong, HKT and Animoca Brands, is developing HKDAP as a regulated Hong Kong dollar stablecoin. The project brings together banking, telecommunications and Web3 expertise as Hong Kong builds a licensing regime for fiat-referenced tokens, with potential applications in cross-border payments and settlement of tokenized assets.
Anchorpoint plans to launch HKDAP in July, subject to securing a license from the Hong Kong Monetary Authority, according to the latest report. The venture has completed a test transfer on the Ethereum mainnet and intends to distribute the token through licensed platforms including OSL and HashKey, positioning it for cross-border money transfers and tokenized-asset settlement.
Hong Kong Regulator Warns Fake HKDAP and HSBC Stablecoins Are Trading
The Hong Kong Monetary Authority regulates issuers of fiat-referenced stablecoins. Hong Kong dollar stablecoins must be issued by licensed institutions and comply with requirements governing reserve assets and redemptions. Counterfeit tokens using names associated with HSBC and AnchorX could mislead investors into believing they have official backing, posing risks of fraud and market disruption.
As of July 20, 2026, the HKMA said it had not issued any stablecoin issuer licenses and warned that fake Hong Kong dollar stablecoins carrying the tickers HKDAP and HSBC were already trading. Neither was issued by a licensed entity or affiliated with an authorized institution. The first regulated Hong Kong dollar stablecoins are expected to launch by the end of 2026 at the earliest.
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