- HKDAP stablecoin gains Standard Chartered as its first authorized bank distributor.
- Institutional uses cover fund settlement, internal transfers, and cross-border payments.
- Anchorpoint and HSBC hold Hong Kong’s first two stablecoin issuer licences.
Standard Chartered has become the first bank authorized to distribute the HKDAP stablecoin in Hong Kong. The bank will initially support eligible institutional clients and partners using the token.
Planned applications include fund subscriptions, asset-manager settlements, internal transfers, and cross-border payments. The move expands bank access to Anchorpoint Financial’s regulated Hong Kong dollar token.
HKDAP Stablecoin Enters Standard Chartered Client Network
Anchorpoint issues the token under one of two licences granted by the Hong Kong Monetary Authority in April. Standard Chartered is Anchorpoint’s majority shareholder and now its first banking distributor.
Eligible institutions can use the bank’s existing onboarding and compliance channels. Standard Chartered plans tokenized money-market fund subscription and settlement services with selected asset managers.
The bank will also test the HKDAP stablecoin for transfers among group entities. It is exploring treasury management and cross-border payment uses. Standard Chartered has not disclosed fees, client commitments, or current transaction volumes.
Hong Kong Stablecoin Market Opens to Bank Competition
Anchorpoint began beta access on August 12 through HashKey Exchange and OSL Group. Initial access covers institutions, corporate users, and professional investors. Retail availability could follow late in 2026, subject to market conditions.
OSL said it will provide distribution and liquidity services. HashKey will also support fiat conversions and commercial integration. The HKDAP stablecoin operates on public blockchain infrastructure under Hong Kong’s licensing rules.
Hong Kong’s Stablecoins Ordinance took effect in August 2025. It requires covered fiat-linked token issuers to hold a licence. Licensed issuers must meet reserve, redemption, governance, risk-management, and disclosure requirements. Hong Kong rules require valid redemptions at par in the reference currency.
The HKMA granted the market’s other issuer licence to HSBC. HSBC plans to launch its Hong Kong dollar stablecoin during the second half of 2026. Its proposed distribution channels include PayMe and the HSBC Hong Kong mobile app.
Standard Chartered’s dual position joins issuance ownership with institutional distribution. The structure gives the HKDAP stablecoin direct access to corporate banking relationships. Anchorpoint retains its licensed issuer duties covering reserves, redemption processes, governance, and disclosures
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.