Anchorpoint Financial has started the phased rollout of its Hong Kong dollar-backed stablecoin, HKDAP, giving institutional distributors and professional investors access to the token for payments, fiat conversion and tokenized asset settlement.
The Standard Chartered-backed issuer said Wednesday that the first stage will focus on cross-border payments and the settlement and distribution of tokenized real-world assets. Authorized distributors will provide HKDAP-to-fiat conversion for institutions, companies and professional investors.
@StanChart-backed @Anchorpoint began rolling out HKDAP on August 12.
It’s a regulated HKD stablecoin on public blockchains, redeemable 1:1 and built for payments, tokenized-asset settlement and programmable applications.
Anchorpoint explicitly lists agents among the builders it…
— Ross (@402Signal) August 12, 2026
HKDAP enters controlled institutional distribution
The rollout follows Anchorpoint’s receipt of a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA) in April. Rather than opening HKDAP to the wider public, the company is starting with selected distributors and partners.
🤝 HashKey Exchange and Anchorpoint Partner on HKDAP Beta Access.
HashKey Exchange joins as a key authorised distributor to support the ecosystem development and wider adoption of HKDAP, the first regulated Hong Kong dollar stablecoin. Eligible institutions and professional… pic.twitter.com/1FJsxwdhE8
— HashKey Exchange (@HashKeyExchange) August 12, 2026
HashKey Exchange has joined the rollout as a distribution partner and completed its first HKDAP minting and redemption transaction. The process allows approved users to convert between HKDAP and fiat currencies within Hong Kong’s regulated framework.
OSL Group is also among the first authorized distributors participating in Beta Access for HKDAP, issued by Hong Kong-licensed stablecoin issuer Anchorpoint Financial Limited. HKDAP, short for “HKD At Par,” is designed to maintain a one-to-one value with the Hong Kong dollar and is backed by eligible reserve assets under Hong Kong’s stablecoin rules.
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HKDAP targets the cash side of Hong Kong’s tokenized asset market
Because tokenized assets need a digital form of money for settlement. HKDAP is designed to act as that settlement layer.
Anchorpoint’s plan is to use the stablecoin to settle and distribute assets such as tokenized financial products, while also supporting cross-border payments and capital flows.
Hong Kong has been expanding its tokenization infrastructure, particularly around bonds and other financial products. In June, the HKMA formed a tokenized bond expert group involving Standard Chartered, HSBC, JPMorgan Securities, UBS, HashKey Group and other firms. The group is examining infrastructure, market practices and regulatory issues as the city expands blockchain-based financial markets.
Hong Kong has already issued more than HK$6.8 billion ($868 million) in tokenized government bonds, creating potential demand for regulated digital settlement tools such as HKDAP.
How HKDAP was tested before the roll
Anchorpoint tested HKDAP’s full transaction cycle on Ethereum Mainnet in May with OSL Group and PantherTrade. The test covered Hong Kong dollar funding, reserve management, token minting, on-chain transfers and redemption.
Standard Chartered’s banking infrastructure was used to move fiat funds into reserve assets before HKDAP was issued. The tokens were then transferred on Ethereum and redeemed in full.
The test provided a practical link between traditional banking systems and blockchain settlement, giving Anchorpoint a foundation for the controlled institutional rollout.
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