Standard Chartered-backed Anchorpoint begins phased rollout of Hong Kong dollar-backed stablecoin

HashKey Exchange has become an authorized distributor for HKDAP, giving eligible investors access to the token through its platform.

Anchorpoint Financial has launched the institutional phase of HKDAP, a Hong Kong dollar-pegged stablecoin backed by a joint venture between Standard Chartered, Animoca Brands and HKT.

The Hong Kong-licensed issuer began HKDAP Beta Access on Wednesday, with HashKey Exchange as a key authorized distributor for Anchorpoint Financial.

The partnership will support HKDAP distribution, trading and related services as Anchorpoint develops its regulated stablecoin ecosystem.

During the first phase, authorized distributors can facilitate conversions between HKDAP and fiat currencies for institutions, corporate customers and professional investors. Anchorpoint said retail use could follow as early as the end of 2026, depending on market conditions.

The company said it plans to focus initially on payments, settlement and other commercial applications that demonstrate the value of regulated tokenized money. HKDAP operates on public blockchain infrastructure under a business-to-business-to-consumer model.

The rollout comes about a year after Hong Kong’s stablecoin law took effect and follows the HKMA’s issuance of the first stablecoin licenses to Anchorpoint and HSBC in April. The phased launch is designed to support adoption while maintaining a prudent approach.

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