Anchorpoint, the Standard Chartered-backed stablecoin issuer, plans to support native minting and redemption of its Hong Kong dollar token HKDAP on Solana, aiming to extend access through the network’s wallets and consumer applications.
The Oct. 30 announcement marks Anchorpoint’s first collaboration with a public-blockchain foundation. Solana described the arrangement as a memorandum of understanding and said HKDAP “will mint and redeem natively on Solana.” Anchorpoint’s release gives no go-live date.
HKDAP is currently available only on Ethereum mainnet in a beta phase for corporate users and professional investors, according to Anchorpoint’s FAQs. The Solana initiative targets retail payments and tokenized-asset trading, but retail access remains a later launch phase.
https://x.com/i/status/2116163254942867907
Native issuance would let Anchorpoint create and redeem HKDAP directly on Solana. The issuer and the Solana Foundation plan to make HKDAP and tokenized products using it accessible through corporate partners and consumer applications.
The foundation will also join Anchorpoint’s Tokenised Money Adoption Programme as a strategic partner alongside PwC Hong Kong. The programme, launched in September, focuses on education, research and industry dialogue through workshops and discussions. Anchorpoint says Solana’s role will include collaboration and knowledge sharing within Hong Kong’s regulated stablecoin and tokenization ecosystem.
Retail Rollouts Diverge
Anchorpoint’s transparency dashboard reported about 103.1 million HKDAP in circulation as of Oct. 30. Each token has a par value of one Hong Kong dollar. Access on a public blockchain does not mean unrestricted transfers: Anchorpoint’s FAQs say transfers to unverified wallets are automatically rejected.
The Hong Kong Monetary Authority’s register lists two licensed stablecoin issuers: Anchorpoint and The Hongkong and Shanghai Banking Corporation, both licensed effective April 10, 2026.
HSBC launched RedCoin on Oct. 23, making the HKD stablecoin available through PayMe, which has more than 3.3 million users. It supports payments to friends and merchants. Unlike HKDAP’s public-chain model, RedCoin runs on HSBC’s private, permissioned blockchain, according to its whitepaper.
Anchorpoint’s FAQs target a full launch, including retail access, as early as the end of 2026, subject to readiness across issuance, distribution and infrastructure such as custody.