Standard Chartered has become the first bank to distribute one of Hong Kong’s regulated stablecoins, offering Anchorpoint Financial’s Hong Kong dollar-backed HKDAP to eligible institutional clients and partners.
The bank, which has about $850 billion in assets and is the majority shareholder of Anchorpoint, plans to support HKDAP integration across several use cases, including money market fund subscriptions, asset-manager settlements, intragroup transfers and cross-border payments.
Anchorpoint began a limited rollout of HKDAP on Aug. 12 after receiving one of Hong Kong’s first two stablecoin issuer licenses. The initial phase focuses on institutional payments and settlement.
HSBC, the other initial license holder, is preparing its own Hong Kong dollar stablecoin for the second half of 2026 and could eventually distribute it through PayMe, which has around 3.3 million users.
The bank, which has about $850 billion in assets and is the majority shareholder of Anchorpoint, plans to support HKDAP integration across several use cases, including money market fund subscriptions, asset-manager settlements, intragroup transfers and cross-border payments.
Anchorpoint began a limited rollout of HKDAP on Aug. 12 after receiving one of Hong Kong’s first two stablecoin issuer licenses. The initial phase focuses on institutional payments and settlement.
HSBC, the other initial license holder, is preparing its own Hong Kong dollar stablecoin for the second half of 2026 and could eventually distribute it through PayMe, which has around 3.3 million users.