Standard Chartered-backed Anchorpoint Financial has begun the first phase of its Hong Kong dollar-backed stablecoin rollout, initially giving limited access to institutional distributors and professional investors.
The stablecoin, called HKD At Par (HKDAP), is designed to support commercial and financial applications, including payments and settlement. Authorised distributors will allow institutions, corporate users and professional investors to convert between HKDAP and fiat currency.
Anchorpoint said its immediate priority is to demonstrate how regulated tokenised money can be used in real-world financial activities.
The venture, a joint project involving Standard Chartered, Animoca Brands and Hong Kong Telecommunications, plans to expand HKDAP access to retail users as early as the end of 2026, depending on market conditions.
The rollout follows the Hong Kong Monetary Authority’s approval of stablecoin licences for Anchorpoint and HSBC earlier this year, highlighting Hong Kong’s growing push to establish a regulated digital-asset market.
Stablecoins are digital assets designed to maintain a stable value by being pegged to traditional currencies such as the Hong Kong dollar or U.S. dollar.
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