Anchorpoint nears HKDAP stablecoin launch after Ethereum mainnet transfer

Anchorpoint Financial Technology, a joint venture backed by Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands, is preparing to launch HKDAP, a Hong Kong dollar-pegged stablecoin, after becoming one of the first licensees under the Hong Kong Monetary Authority’s Stablecoins Ordinance.

HKDAP stablecoin is expected to be introduced through Anchorpoint Financial Technology, a joint venture backed by Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands.

According to local media reports citing market sources, the consortium is preparing a joint announcement within the coming weeks after months of regulatory preparation and infrastructure testing.

The reported launch follows Anchorpoint’s approval as one of the first recipients of a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA) under the city’s landmark Stablecoins Ordinance.

If officially confirmed, the development would shift the project from regulatory approval into commercial issuance, marking another significant step in Hong Kong’s effort to become a global leader in compliant digital finance.

HKDAP stablecoin enters commercial issuance phase

The HKDAP stablecoin has been designed as a Hong Kong dollar-pegged digital asset backed on a one-to-one basis by high-quality reserve assets held in segregated accounts.

The reserve structure complies with strict HKMA requirements governing fiat-referenced stablecoins, including transparency, customer asset protection, and ongoing regulatory oversight.

Anchorpoint previously announced that the HKDAP stablecoin would initially launch through a business-to-business-to-consumer (B2B2C) model before gradually expanding to broader retail and enterprise adoption.

The phased strategy is intended to ensure operational stability while allowing financial institutions and payment providers to integrate the stablecoin into existing digital payment ecosystems before wider public availability.

Ethereum infrastructure strengthens HKDAP stablecoin readiness

One of the biggest milestones ahead of the commercial launch came in May, when the HKDAP stablecoin successfully completed a production-ready transfer on Ethereum’s mainnet.

The transaction involved Anchorpoint, licensed digital asset platform OSL Group, and PantherTrade, a trading platform backed by Futu Holdings. Unlike controlled sandbox environments, the test demonstrated real-world issuance, transfer, and settlement capabilities using production infrastructure.

A spokesperson involved in the trial said the successful transfer validated both the technical architecture and compliance framework ahead of commercial deployment.

Anchorpoint has also stated that deploying the HKDAP stablecoin on Ethereum enables compatibility with existing wallets, exchanges, and decentralized finance (DeFi) applications while remaining fully compliant with Hong Kong’s regulatory standards.

Industry leaders see regulated stablecoins driving financial innovation

Standard Chartered has repeatedly emphasized the importance of regulated digital assets in the future financial system.

Bill Winters, Group Chief Executive of Standard Chartered, previously said:

“Digital assets are here to stay.”

Winters has consistently argued that regulated blockchain infrastructure can improve payment efficiency while strengthening trust across global financial markets.

Meanwhile, Animoca Brands Executive Chairman Yat Siu has repeatedly highlighted Hong Kong’s unique opportunity to become a global digital asset center.

“We believe Hong Kong has the opportunity to become a leading global hub for Web3,” Siu previously said while discussing the city’s regulated digital asset ecosystem.

Their backing gives the HKDAP stablecoin considerable credibility as institutional investors increasingly seek regulated alternatives to privately issued stablecoins operating outside formal financial supervision.

HKDAP stablecoin could reshape Hong Kong’s digital payment landscape

The launch of the HKDAP stablecoin comes as governments throughout Asia accelerate the development of regulated stablecoin ecosystems.

Hong Kong has chosen a licensing-first approach, requiring issuers to maintain full reserve backing, segregated customer funds, strict disclosure standards, governance controls, and continuous regulatory supervision through the HKMA.

Analysts say these safeguards could improve institutional confidence while reducing many of the risks associated with unregulated stablecoin issuers seen during previous market downturns.

The HKDAP stablecoin could eventually support cross-border payments, tokenized financial products, digital commerce, and enterprise settlement solutions across both traditional finance and Web3 markets.

As demand for compliant digital payment infrastructure continues growing, the HKDAP stablecoin may also strengthen Hong Kong’s competitive position against regional financial centers developing their own regulated digital currency ecosystems.

While Anchorpoint has yet to formally confirm an exact launch date, expectations continue building that the HKDAP stablecoin will soon become one of the first fully licensed Hong Kong dollar stablecoins available under the city’s comprehensive regulatory framework—a milestone that could significantly influence the next phase of regulated digital asset adoption across Asia.