Anchorpoint Financial, a Standard Chartered joint venture, said it has begun the first phase of distribution for HKDAP, its Hong Kong dollar-backed stablecoin. Anchorpoint’s official product page says access is provided through a network of authorized distributors. The company identifies commercial applications, including regulated payment and settlement use cases, as areas of focus.
What is HKDAP?
The name HKDAP stands for “HKD At Par.” Anchorpoint’s official product page describes it as a licensed Hong Kong dollar-backed stablecoin built on public blockchains. The company says every HKDAP in circulation is fully backed by high-quality, liquid reserve assets held through a trust structure that is legally segregated from Anchorpoint’s own operational accounts.
Who has access in the first phase?
According to Anchorpoint, access is provided through authorized distributors and their existing client networks. Anchorpoint is using a business-to-business-to-consumer model that relies on distributors and their existing client networks. This report is not an access guide: the first phase was not announced as a general retail launch.
The licensing step
The Hong Kong Monetary Authority granted stablecoin issuer licences to Anchorpoint Financial and HSBC on April 10, 2026 under the Stablecoins Ordinance. An official Hong Kong government release said the licences took effect that day and that both companies planned to launch after completing their preparations. The authority also said it would maintain a public register of licensed issuers.
How the joint venture is structured
Anchorpoint is a joint venture established by Standard Chartered Bank Hong Kong, HKT and Animoca Brands. Standard Chartered’s April announcement says the entity was formed in 2025 after the partners had participated in the Hong Kong Monetary Authority’s stablecoin issuer sandbox. Standard Chartered’s announcement confirms the roles of the same three organizations in the joint venture.
Planned use cases
Anchorpoint says the immediate goal is to support commercial applications that demonstrate potential uses for regulated tokenized money, particularly payments and settlement. Its official page also describes capital transfers, settlement of tokenized instruments and programmable finance as intended areas. These are company-stated goals and examples; they do not establish that every proposed application is already operating at scale.
Broader adoption is conditional
Anchorpoint’s B2B2C model is intended to support a broader ecosystem through authorized distributors and service partners. The official product page does not give a guaranteed date for completing wider access. The eventual scope will depend on distributor and partner arrangements as well as later company and regulatory updates. A wider rollout should only be treated as active when it is formally confirmed.
Official warnings remain important
Hong Kong authorities have warned the public to verify issuers through the official register and remain alert to scams claiming to be associated with licensed stablecoins. Anchorpoint has also warned about unregulated tokens that imitate the HKDAP name. The verified news is therefore narrow: regulated distribution has begun for a limited institutional group, while unverified token addresses, social links and purchase claims should not be treated as official.
The confirmed picture
HKDAP has moved into a phased institutional rollout following Anchorpoint’s April licence. Anchorpoint, Standard Chartered and the Hong Kong government identify the same issuer, licence framework and joint-venture structure. The sources also distinguish the current limited phase from possible future retail use. No claim about investment returns, price appreciation or unrestricted public availability is supported by these announcements.
