The launch follows the company's successful bid for one of Hong Kong's inaugural stablecoin issuer licenses, granted by the Hong Kong Monetary Authority in April. Rather than an immediate public release, Anchorpoint is deploying HKDAP through a network of selected distributors. HashKey Exchange has joined this initial phase as a key partner, confirming the completion of its first minting and redemption transaction.
In section Cryptocurrency
Anchorpoint Launches HKDAP Stablecoin for Institutional Use in Hong Kong
Anchorpoint has initiated the phased rollout of its HKDAP stablecoin, marking a transition from regulatory testing to live distribution. Backed by Standard Chartered, the project is now providing institutional partners and professional investors with tools for cross-border payments, fiat conversion, and the settlement of tokenized real-world assets.
Dominic Maffei, CEO of Anchorpoint, noted that the firm is prioritizing commercial applications and market adoption under the city’s strict regulatory framework. The stablecoin, designed to maintain a one-to-one peg with the Hong Kong dollar, operates under the Stablecoins Ordinance that took effect in August 2025. To ensure system integrity, Anchorpoint previously conducted live trials on the Ethereum Mainnet in collaboration with OSL Group and PantherTrade, successfully testing the end-to-end cycle from fiat funding and reserve management to on-chain settlement.
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