Standard Chartered-backed Anchorpoint has prepared to launch its Hong Kong dollar stablecoin HKDAP, with a joint announcement expected before the end of July, according to local media.
Summary
- Standard Chartered and Anchorpoint are expected to announce the launch of the Hong Kong dollar stablecoin HKDAP within the next two weeks, according to local media.
- HKDAP received one of Hong Kongs first stablecoin issuer licenses in April and will be backed one to one by Hong Kong dollar reserves.
- The stablecoin completed a successful Ethereum mainnet transfer test in May ahead of its planned public rollout.
According to local media citing market sources, Standard Chartered Bank (Hong Kong) and Anchorpoint Financial Technology are expected to announce the rollout of HKDAP, a Hong Kong dollar-pegged stablecoin, within the next two weeks.
The report said the launch will come through Anchorpoint, one of the first two companies to receive a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA) in April.
If confirmed, the announcement would move the project from regulatory approval into public issuance after months of technical preparation under Hong Kongs stablecoin framework.
HKDAP moves toward issuance
Anchorpoint is a joint venture backed by Standard Chartered Bank (Hong Kong), HKT and Animoca Brands. When the HKMA granted its first batch of stablecoin issuer licenses in April, Anchorpoint said it planned to begin issuing HKDAP in phases during the second quarter of 2026 under Hong Kongs Stablecoins Ordinance.
According to Anchorpoints earlier announcement, every HKDAP token will be backed one-to-one by high-quality Hong Kong dollar reserves held in segregated accounts, following the reserve and disclosure requirements laid out by the HKMA for fiat-referenced stablecoins.
Earlier company statements also said HKDAP would follow a business-to-business-to-consumer (B2B2C) rollout model before expanding to wider use.
Ethereum testing completed before launch
The expected launch follows a successful Ethereum mainnet transfer test completed in May involving Anchorpoint, licensed digital asset platform OSL Group, and PantherTrade, a trading platform backed by Futu Holdings.
According to participants in the test, the transaction demonstrated that HKDAP could be issued, transferred, and settled on Ethereums public blockchain using production-ready infrastructure rather than a sandbox environment. A spokesperson involved in the trial said the transfer validated both the technical architecture and the compliance framework ahead of commercial issuance.
Anchorpoint has previously said deploying HKDAP on Ethereum will allow interoperability with existing wallets, exchanges, and decentralized finance applications while maintaining regulatory oversight under Hong Kongs licensing regime.
The stablecoin project forms part of Hong Kongs effort to establish a regulated digital payment asset tied to the Hong Kong dollar as jurisdictions across Asia continue developing licensed stablecoin frameworks. The HKMA issued its first stablecoin issuer licenses to Anchorpoint and HSBC in April under rules requiring full reserve backing, segregated customer assets and ongoing regulatory supervision.