Standard Chartered-Backed HKDAP to Launch in HK by Late July

Each HKDAP token will be fully backed by Hong Kong dollar reserves kept in separate accounts, the company said. The ordinance requires ongoing reserve reporting, custodial arrangements and regulatory oversight. The formal announcement is expected once all operational and regulatory requirements are satisfied.

Anchorpoint plans a phased B2B2C rollout, starting with commercial use before broader distribution. The gradual approach allows operational validation before wider adoption across payment networks, the company said.

The deployment would make HKDAP among the first regulated Hong Kong dollar stablecoins under the new framework. Standard Chartered's backing adds a layer of institutional credibility as Hong Kong builds a regulated marketplace for digital payment instruments tied to the local currency.