HashKey Tapped to Distribute Anchorpoint’s HKDAP Stablecoin

The appointment establishes HashKey as a primary operational bridge between the issuer and market participants. According to an Aug. 12 announcement, the exchange has already successfully processed its first minting and redemption transactions, validating the token’s on- and off-ramp capabilities. While retail access remains restricted, the companies intend to leverage this distribution model to test the stablecoin’s utility in cross-border payments, settlement services, and broader tokenized finance applications.

Expanding the Hong Kong Stablecoin Ecosystem

Anchorpoint, a joint venture between Standard Chartered Bank, HKT, and Animoca Brands, received its issuer license from the Hong Kong Monetary Authority in April 2026. The project operates under the city’s Stablecoins Ordinance, which mandates that issuers maintain liquid, segregated reserve assets to ensure one-to-one parity. By utilizing authorized distributors like HashKey and OSL Group, Anchorpoint aims to scale its institutional network without managing individual client relationships directly. While current testing focuses on professional-grade use cases, market analysts estimate that Hong Kong-based stablecoin platforms could eventually facilitate up to $16 billion in volume, though the nascent market remains significantly smaller than the dominant U.S. dollar-pegged stablecoin sector.