Anchorpoint Launches HKDAP Stablecoin for Hong Kong Institutions
Standard Chartered-backed Anchorpoint has begun a phased rollout of HKDAP, a Hong Kong dollar-backed stablecoin, with beta access now available to institutional distributors and professional investors. HashKey Exchange and OSL Group are authorized to facilitate minting and redemption of the tokens.
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Story Updates
- Updated Aug 12, 2026, 11:10 PM: HashKey Exchange separately confirmed as authorized distributor for HKDAP beta rollout.
- Updated Aug 12, 2026, 11:01 PM: HashKey Exchange and OSL Group confirmed as authorized distributors for HKDAP beta minting and redemption.
Phased Rollout Underway
Anchorpoint, a Standard Chartered-backed fintech firm, opened beta access to its HKDAP stablecoin on Wednesday to institutional distributors and professional investors in Hong Kong. The first phase of the rollout targets payments, fiat conversion, and tokenized asset settlement use cases. The stablecoin is denominated in and backed by Hong Kong dollars.
Authorized Distributors and Initial Access
HashKey Exchange and OSL Group have been appointed as authorized distributors for the beta phase. HashKey was separately confirmed as a distributor by Anchorpoint following the initial rollout announcement. Both platforms now enable qualified institutions and professional investors to mint, redeem, and convert HKDAP into fiat. The limited initial release reflects Anchorpoint's strategy to establish liquidity and operational infrastructure among a curated set of counterparties before broader market access.
Regulatory and Market Context
The launch adds to a growing roster of Hong Kong-denominated digital assets targeting institutional users. By starting with regulated distributors and professional investor tiers, Anchorpoint operates within Hong Kong's regulatory framework while building network effects among institutions. A major bank-backed Hong Kong stablecoin with institutional settlement rails validates digital asset infrastructure in Asia and may encourage other financial institutions to issue similar products.
Why It Matters
For Traders
Limited beta access via two authorized distributors constrains initial liquidity; monitor secondary market pricing and redemption spreads as institutional demand emerges.
For Investors
Major bank-backed Hong Kong stablecoin with institutional settlement rails validates digital asset infrastructure in Asia, signaling readiness for broader financial institution adoption.
For Builders
DeFi and fintech protocols targeting Hong Kong or Asian institutional users now have a regulated fiat-backed on-ramp in HKD, expanding addressable use cases for settlement and cross-border flows.
This article is for information only and is not financial advice. Read the full disclaimer.
