Bank of East Asia, Anchorpoint Team Up on HKDAP Use Cases

Anchorpoint is expanding the distribution network for its HKDAP stablecoin pilot, using authorised intermediaries to connect the project with eligible institutions and professional investors. Distributors provide the operational links needed for subscriptions, redemptions, settlement and transfers between fiat currency and stablecoins, infrastructure that will be critical if regulated digital money is to move beyond testing and support real-economy transactions.

Finloop and Yunfeng Financial have become Anchorpoint’s latest authorised distributors under the HKDAP testing programme, bringing the number of participating distribution institutions to five. The two firms will offer eligible institutional and professional investors access to HKDAP subscriptions, redemptions, settlement and fiat on- and off-ramp services. The announcement did not disclose transaction amounts, the size of the pilot or a date for full commercial launch.

Hong Kong’s stablecoin regime took effect in August 2025, requiring issuers to obtain a Hong Kong Monetary Authority licence and maintain fully backed reserves. Anchorpoint Financial, a venture involving Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, secured one of the first licences in April 2026. Its HKDAP token is redeemable one-for-one for Hong Kong dollars and is designed for cross-border payments, corporate treasury operations and tokenised-asset settlement.

Anchorpoint opened HKDAP Beta Access on Aug. 12 for institutions, corporate users and professional investors. Standard Chartered Hong Kong became its first authorised bank distributor on Aug. 24 and plans to introduce subscriptions and settlements for tokenised money-market funds with international and local asset managers in the fourth quarter. Anchorpoint reported HK$522,000 in circulation and HK$1.62 million in reserves as of Aug. 19, while a broader launch is targeted for as early as end-2026.

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.