- HKDAP, a Hong Kong dollar stablecoin, could launch as early as the end of this month.
- Standard Chartered and Anchorpoint are expected to jointly announce the regulated token.
- HKDAP will initially target institutional payments and tokenized asset settlement.
Hong Kong’s regulated stablecoin market is set to take another step forward, with market reports indicating that HKDAP, a Hong Kong dollar-pegged stablecoin developed by Anchorpoint Financial Technology and Standard Chartered Bank (Hong Kong), could be officially unveiled as early as the end of this month.
The launch would mark one of the first regulated stablecoins issued under Hong Kong’s new licensing regime, backing the city’s strategy of bringing digital assets into the traditional financial system through licensed banks and regulated institutions.
HKDAP Announcement Expected Within Weeks
According to local market reports, Anchorpoint Financial Technology, led by Standard Chartered Bank (Hong Kong), is preparing a joint announcement to introduce HKDAP, a stablecoin fully pegged to the Hong Kong dollar.
The announcement is expected before the end of the month. Anchorpoint was among the first institutions to receive a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA) in April under the city’s new Stablecoins Ordinance.
HKDAP is expected to become Standard Chartered’s regulated Hong Kong dollar stablecoin, adding another licensed digital payment instrument to the city’s expanding digital asset ecosystem.
Hong Kong Adopted a Bank-Led Model
The upcoming launch follows the HKMA’s decision in April to award the first two stablecoin licenses to HSBC and Anchorpoint Financial, the latter being a joint venture involving Standard Chartered, Hong Kong Telecommunications, and Animoca Brands.
The approvals came eight months after Hong Kong’s Stablecoins Ordinance took effect on August 1, 2025. Out of 36 formal applications submitted before the September 30 deadline, only two were approved, resulting in an approval rate of about 5.6%.
Regulators repeatedly indicated they would issue only a small number of licenses during the first round, prioritizing institutions with established governance, reserve management, risk controls, and anti-money laundering systems.
Interestingly, the licensing decisions showed that Hong Kong intends to build its digital money infrastructure around regulated banks rather than cryptocurrency-native companies.
Institutional Payments Come First
HKDAP’s rollout strategy differs significantly from HSBC’s. While HSBC plans to integrate its Hong Kong dollar stablecoin into PayMe and its mobile banking platform during the second half of 2026 for consumer payments, merchant transactions, and investment subscriptions, HKDAP is expected to focus first on institutional use cases.
The stablecoin is designed to support cross-border payments, tokenized asset settlement, supply chain finance, and other business-to-business financial services through a phased B2B2C distribution model.
Related: Hong Kong Prepares First Stablecoin Licences for Major Banks
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