standardchatered

Standard Chartered said it has become an approved distributor of HKDAP, a regulated Hong Kong dollar stablecoin issued by its joint-venture stablecoin issuer Anchorpoint Financial, according to Ming Pao.

The bank said its initial applications include plans to launch subscription and settlement services for tokenized money market funds with leading international and local asset managers in the fourth quarter. It also plans to implement internal settlement use cases for HKDAP within the group network in the near term.

Standard Chartered said the pilot will serve as a blueprint for institutional clients seeking to improve operating efficiency through on-chain stablecoins, especially multinational companies looking to expand cross-border applications.
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