Standard Chartered Bank Hong Kong has become the first bank authorised to distribute HKDAP, a regulated Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial, expanding the token’s rollout into conventional banking.

The bank is initially working with eligible institutional clients on use cases including:

  • tokenised fund settlement,

  • treasury management, and

  • cross-border payments.

Standard Chartered plans to introduce HKDAP-based subscriptions and settlements for tokenised money-market funds with local and international asset managers in the fourth quarter, while also exploring intragroup settlements across its banking network.

HKDAP’s distribution had previously been limited to crypto-sector channels, with HashKey Exchange and OSL among its authorised distributors following the stablecoin’s institutional beta launch earlier this month.

The development marks a further step in Hong Kong’s effort to move regulated stablecoins from controlled pilots into financial-market infrastructure.

Anchorpoint, a joint venture between Standard Chartered, HKT and Animoca Brands, received one of Hong Kong’s first two stablecoin issuer licences from the Hong Kong Monetary Authority in April 2026.

 

PRESS RELEASE | The Hong Kong Monetary Authority Grants First Stablecoin Licenses to HSBC and AnchorPoint

 

The significance extends beyond another stablecoin launch:

A major international bank is now using its own institutional distribution network to bring regulated tokenised money into fund settlement, treasury and payments – areas where stablecoins could increasingly compete with traditional banking rails.

 

 

INTRODUCING | Hong Kong Becomes the First Global Financial Hub to Authorize Bitcoin and Ether Spot ETFs

 

 

 

 

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