Anchorpoint Financial has begun the first phase of its HKD At Par (HKDAP) stablecoin rollout, bringing the Hong Kong dollar backed token into beta access for institutional distributors and professional investors. The launch moves the project from testing into its first live commercial phase, with payments, settlement and tokenized asset applications among the initial use cases.
Key Takeaways
- Anchorpoint has launched beta access for HKDAP, its Hong Kong dollar backed stablecoin.
- The initial rollout targets institutions, corporate users and professional investors through authorized distributors.
- Cross border payments, settlement and tokenized real world assets are among the first targeted applications.
- Anchorpoint received one of Hong Kong’s first stablecoin issuer licenses from the HKMA in April 2026.
- HashKey Exchange and OSL Group are among the companies involved in the rollout and testing of HKDAP.
- Anchorpoint expects to expand access beyond professional investors, with retail availability targeted toward the end of 2026.
HKDAP moves into institutional use
The launch represents a significant step for Anchorpoint, a joint venture involving Standard Chartered, HKT and Animoca Brands. Instead of opening HKDAP directly to the public, the company is using a business to business to consumer model in which authorized distributors connect the stablecoin with businesses and eligible investors. These distributors will support conversions between HKDAP and fiat currencies while helping customers integrate the token into commercial and financial applications.
Anchorpoint CEO and co founder Dominic Maffei said the company is initially focused on demonstrating practical applications for regulated digital money.
“Our immediate focus is on supporting the development of commercial applications that demonstrate the value of regulated tokenised money in real world settings, including payments and settlement use cases.”
The company is particularly targeting cross border payments, settlement and the distribution of tokenized real world assets.
HashKey Exchange has joined the rollout as an authorized distributor and completed its first HKDAP minting and redemption transaction. OSL Group is also participating in the initiative and previously worked with Anchorpoint during testing of HKDAP transfers on Ethereum Mainnet.
From Ethereum Testing to Commercial Rollout
Anchorpoint conducted a major test with OSL in May that covered the full lifecycle of HKDAP. The process included funding Hong Kong dollar reserves through Standard Chartered’s banking infrastructure, minting the stablecoin, transferring it on Ethereum and subsequently redeeming it. The successful test provided a foundation for the current beta phase.
HKDAP is designed to maintain a 1:1 value with the Hong Kong dollar, with its circulating supply backed by eligible reserve assets under Hong Kong’s regulatory requirements. This structure is intended to give businesses a regulated digital representation of the local currency that can move across blockchain infrastructure. The token’s initial use cases could also give financial institutions a way to combine traditional banking services with blockchain based settlement.
Hong Kong’s Regulated Stablecoin Market Expands
Anchorpoint’s rollout follows its approval as a licensed stablecoin issuer by the Hong Kong Monetary Authority (HKMA) in April 2026. Anchorpoint and HSBC became the first two firms to receive stablecoin issuer licenses under Hong Kong’s new regulatory framework.
The Stablecoins Ordinance established licensing requirements for companies issuing fiat referenced stablecoins in Hong Kong. Licensed issuers must meet requirements covering reserves, governance, risk management, customer protection and redemption.
For Anchorpoint, the regulatory approval provides the foundation for moving HKDAP from controlled testing into real financial applications. The company’s Standard Chartered connection is also significant because the bank provides established financial infrastructure that can support the movement of fiat funds into reserve assets. This creates a link between traditional banking operations and the blockchain based token.
Retail Access Could Follow
The current beta remains focused on institutional distributors, corporate users and professional investors. Anchorpoint plans to broaden participation later in 2026, with retail access potentially arriving toward the end of the year depending on market conditions. The phased approach allows the company and its partners to test demand, transaction infrastructure and commercial applications before opening the stablecoin to a wider audience.
For Hong Kong, the rollout adds another major institution backed project to its growing digital asset sector. The success of HKDAP will depend largely on whether businesses find practical advantages in using a regulated Hong Kong dollar stablecoin for payments, settlement and tokenized assets.
Conclusion
Anchorpoint’s launch of HKDAP marks the transition of its Hong Kong dollar stablecoin from regulatory approval and testing into institutional use.
With Standard Chartered, HKT and Animoca Brands behind the project and licensed platforms such as HashKey Exchange and OSL involved, HKDAP has an established network through which it can develop its first commercial applications.
The next major test will be adoption. If institutions and businesses begin using HKDAP for cross border payments, settlement and tokenized assets, the project could strengthen Hong Kong’s position as a regulated hub for blockchain based financial infrastructure.
