🏦 Standard Chartered has just become the first bank to distribute HKDAP.

Standard Chartered Hong Kong has started distributing HKDAP, giving eligible institutional clients access to a regulated Hong Kong dollar stablecoin.

HKDAP is issued by Anchorpoint Financial under Hong Kong’s HKMA stablecoin framework, with Standard Chartered as its largest shareholder.

Some key numbers:
⚡ 1 HKD target value
⚡ Ethereum-based
⚡ 522K HKDAP in circulation as of August 19
⚡ Access currently limited to institutions, corporates, and professional investors

And this is where things get interesting.

Standard Chartered is also planning to offer tokenized money-market fund subscription and settlement services in Q4.

Potential use cases include:

⚡ Cross-border payments
⚡ Corporate treasury management
⚡ Tokenized fund settlement

Basically:
Banks are slowly moving from “crypto is risky” to “let’s put the banking rails on-chain.” 💀

Hong Kong may be turning into one of the most interesting testing grounds for regulated stablecoins.

Let me ask for real: are stablecoins distributed by banks the next step for TradFi to go on-chain? 👀

#stablecoin #HongKong #Ethereum #RWA #crypto