Standard Chartered is the first bank authorized to offer HKDAP, a Hong Kong dollar stablecoin issued by Anchorpoint Financial.
The bank helps authorized institutions and partners adopt HKDAP into their operations.
On August 12, Anchorpoint promoted HKDAP to institutions through authorized distributors of HashKey Exchange and OSL Group.
Hong Kong’s Stablecoins Ordinance developed the licensing network for fiat-referenced tokens in August 2025. The HKDAP operates on a public blockchain, allowing the stablecoins without restrictions by a single institution’s operating hours.
Standard Chartered Overview
Standard Chartered is the first bank authorized to offer HKDAP, delivering a direct route to institutional banking, corporate treasury, and cross-border transactions.
Standard Chartered partners with authorizing institutional clients to integrate HKDAP into existing financial businesses. This strategy leverages tokenized settlement, money market funds, transfer from global banks, and cross-border transactions.
On August 12, OSL and HashKey Exchange became authorized distributors as Anchorpoint Financial promoted HKDAP Beta Access. Standard Chartered expands offer from digital asset networks into traditional banking networks.
Standard Chartered Broader Partnerships
Standard Chartered also partnered with Animoca Brands and HKT. Furthermore, it manages the largest stake in Anchorpoint Financial and delivers a significant institutional channel for HKDAP. The initiative demonstrates the bank’s wider expansion into institutional crypto.
The bank has not reported commercial terms such as eligibility, fees, or intra-bank access. This information is important as the bank now controls both issuance and distribution. These details will be essential for institutions looking into HKDAP as part of financial operations.
Institutions leveraging HashKey Exchange or OSL Group should verify their distributor, standard requirements, and settlement terms prior to adding another route.
Market Competition
HSBC, another first-round licensee, initiates to promote its own Hong Kong dollar stablecoin in the second half of 2026, possibly through PayMe’s 3.3 million users.
Several institutions are also expanding their digital asset services. Kraken parent company Payward agreed to purchase Reap Technologies of approximately $600 million, while HashKey Exchange and OSL Group are authorized distributors. Standard Chartered enters a stablecoin market with existing competitors.
HKDAP’s Early Stage
HKDAP is still in its early stages. Anchorpoint announced 522,000 tokens in circulation and 658,160 transactions during Beta Access as of August 19.
Access is also restricted to authorized distributors and institutional or corporate users. Wider availability such as potential retail access will begin by the end of 2026.
Hong Kong’s stablecoin Ordinance took effect on August 1, 2025, requiring issuers of covered fiat-reference stablecoin to acquire a license. The HKMA authorized its first two licenses to Anchorpoint and HSBC in April 2026.
HSBC has not yet ready to launch the Hong Kong dollar stablecoin but strategize for outlook during the second half of 2026. Its outlined integration with HSBC’s mobile banking app and PayMe could deliver a major larger retail distribution channel.
