HashKey Exchange Joins HKDAP Stablecoin Beta as Key Distributor

HashKey Exchange, Hong Kong's largest licensed digital asset exchange by trading volume, has joined the beta access program for HKDAP, the first regulated dollar-pegged stablecoin issued under the HKMA's Stablecoins Ordinance, the companies said Monday. The partnership lets eligible institutions and professional investors mint, trade, and redeem the stablecoin through HashKey's platform. HashKey has already completed its first minting and redemption transaction, including fiat on- and off-ramp capabilities, the announcement said.

HKDAP (HKD At Par) is issued by Anchorpoint Financial, a joint venture of Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands. Anchorpoint received the first stablecoin issuer license (FRS01) from the Hong Kong Monetary Authority in April 2026, under the Stables Ordinance. The stablecoin is designed as a tokenized medium of exchange for digital economy transactions and cross-border payments.

The partnership bridges two regulated entities: HashKey, which holds Type 1, Type 7, and virtual asset trading platform operator licenses from the Securities and Futures Commission, and Anchorpoint, which holds the HKMA stablecoin license. That dual-regulation structure sets HKDAP apart from unregulated stablecoins, the companies said. For institutional clients, minting and redemption happen through HashKey's app, with fiat settlement supported.

“Regulated HKD stablecoins have garnered significant market attention,” Haiyang Ru, Chief Executive Officer at HashKey Exchange, said in the announcement. “HashKey will actively leverage its role as a platform connecting issuer, financial institutions, and market participants to provide compliant, secure, and convenient market access and circulation support for HKDAP.”