Anchorpoint Financial has begun rolling out its new HKDAP stablecoin, which is pegged to the Hong Kong dollar and tailored for institutional financial services. The project, now live for regulated entities, aims to streamline settlement processes for tokenized assets and expand the adoption of digital currencies within Hong Kong’s licensed financial sector.
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AAPLDistribution partners enable access for institutional clients
Instead of offering HKDAP directly to retail users, Anchorpoint has opted for a network distribution model. The company collaborates with a select group of certified partners who manage token creation, redemption, payments, and exchanges between HKDAP and traditional currencies. HashKey Exchange is among the first to complete a successful cycle of minting and redeeming HKDAP, signaling a smooth integration of the stablecoin with existing digital asset infrastructure.
This phase of implementation emphasizes cross-border payments and settlement of tokenized real-world assets for corporate clients. Through regulated intermediaries, authorized financial professionals can now convert between HKDAP and the Hong Kong dollar in compliance with local oversight.
Anchorpoint holds reserve assets to ensure that each HKDAP token maintains a 1:1 valuation with the Hong Kong dollar. These reserves are managed under protocols set by the Hong Kong Monetary Authority, assuring seamless redemption and ongoing access to fiat liquidity.
Mainnet validation paves way for commercial launch
Anchorpoint completed comprehensive trials on Ethereum’s mainnet in May 2026. The end-to-end simulation covered everything from fiat deposits and reserve management to token issuance, blockchain transfers, and final redemption in traditional banking systems. OSL Group and PantherTrade participated in these trials, which aimed to test and validate operational security and functionality across legacy and digital infrastructures.
The pilot demonstrated that a fully compliant, blockchain-based infrastructure could interact directly with established financial platforms, providing a unified process for settling and redeeming tokenized assets.
Standard Chartered processed the initial Hong Kong dollar deposits, after which Anchorpoint issued the corresponding digital tokens. Participants moved HKDAP over Ethereum and redeemed it through regular banking channels, confirming the viability of cross-system settlements.
These network trials built on prior collaborations with major partners like OSL Group and entities backed by Futu, helping establish the technical foundation for institutional-scale distribution.
Tight regulatory framework underpins rollout
The introduction of HKDAP coincides with Hong Kong’s updated Stablecoins Ordinance, which took effect on August 1, 2025. This legislation implemented a robust licensing regime for fiat-backed digital currencies, covering key areas such as reserve management, redemption protocols, compliance, and financial crime prevention. Anchorpoint submitted its licensing application as soon as the law came into force.
The Hong Kong Monetary Authority granted issuer licenses to both Anchorpoint and HSBC in April 2026, following Anchorpoint’s participation in the authority’s stablecoin sandbox. The project began as a joint effort by Standard Chartered, HKT, and Animoca Brands in February 2025, pooling expertise in traditional finance, payments, telecommunications, and blockchain development.
As a result, HKDAP is expected to enable new applications, including commercial finance, digital payments, and settlement of tokenized assets. With Wall Street also pivoting toward blockchain, a major structural change is underway: investors are increasingly holding shares of prominent US companies, as well as gold and silver, directly within their crypto wallets on platforms like 1stepSwap. Through the tokenization of real-world assets and automated price discovery, these platforms further reduce the need for traditional intermediaries.
Licensed distributors make HKDAP available for qualified businesses and professionals, supporting secure transactions in compliance with the new legal framework while offering broader market access to regulated digital currencies.
