Hong Kong’s HKDAP Stablecoin Expected to Launch by End of July

Anchorpoint Financial, a joint venture that includes Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, is preparing to issue HKDAP, a stablecoin pegged to the Hong Dollar. The firm received one of the first two stablecoin‑issuer licences from the Hong Kong Monetary Authority in April and plans a regulated launch targeting institutional payments and tokenised‑asset settlement.

Local reports say a joint announcement by Anchorpoint and Standard Chartered could be made before the end of July 2026, with the token possibly becoming available shortly thereafter. A May test on the Ethereum mainnet demonstrated issuance and redemption of HKDAP, and crypto exchanges OSL and HashKey Exchange are slated to act as early distributors. The launch would mark one of the first commercial applications of Hong Kong’s new stablecoin licensing regime, which aims to integrate digital assets into the traditional banking system.

The rollout follows a low‑approval rate – only two of 36 applications were granted licences – reflecting regulators’ focus on institutions with robust governance and anti‑money‑laundering controls.