Standard Chartered launches HKDAP stablecoin for institutions

Standard Chartered is the first bank to distribute HKDAP, a regulated Hong Kong dollar stablecoin, enabling direct integration into institutional treasury and settlement workflows.

Standard Chartered has become the first authorized bank distributor of HKDAP, a regulated Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial. This partnership brings HKDAP directly into institutional treasury management, tokenized fund settlement, and cross-border payment workflows, expanding its reach beyond crypto-native platforms such as HashKey and OSL. The bank will support the issuance, reserves, and distribution of HKDAP. It plans to pilot tokenized fund settlement and treasury operations in the fourth quarter, with beta access currently limited to eligible institutional clients. HKDAP is designed to maintain a 1:1 peg with the Hong Kong dollar and complies with regulatory requirements for reserves, redemption, AML, and customer verification. Anchorpoint Financial holds a stablecoin issuer license from the Hong Kong Monetary Authority under the Stablecoins Ordinance. Standard Chartered’s involvement is expected to make minting, redemption, and transfers more practical for corporate treasurers, bridging the gap between public blockchains and traditional finance. The next key milestone for HKDAP will be its adoption metrics in the fourth quarter.