Standard Chartered JV Begins Hong Kong Dollar Stablecoin Rollout

Anchorpoint is a joint venture between Standard Chartered, Animoca Brands and HKT. The firm plans to use distributors and commercial partners to bring the token into payments, settlement and other financial applications. HKDAP stands for "Hong Kong dollar at par."

Hong Kong's stablecoin rules took effect on Aug. 1, 2025, requiring issuers to secure a licence and meet capital, reserve and governance standards. The city passed the legislation in May 2025, nearly two months before the U.S. GENIUS Act was signed into law, placing Hong Kong among the earlier major financial markets to adopt a dedicated stablecoin framework.

HSBC, the other initial licensee, is preparing its stablecoin for the second half of 2026 and could distribute it through PayMe, which has 3.3 million users. Kraken parent Payward has also expanded its Hong Kong stablecoin operations through a $600 million agreement to buy Reap Technologies.

Anchorpoint could extend HKDAP to retail users as early as the end of 2026, the firm said.