Standard Chartered becomes first bank to offer HKDAP

Standard Chartered Bank Hong Kong became the first bank to distribute HKDAP on Aug. 24, giving eligible institutional clients and partners access to Hong Kong’s first live regulated local-currency stablecoin. Summary Standard Chartered became HKDAP’s first bank distributor, extending access to eligible institutional clients and partners. Anchorpoint holds one of two stablecoin issuer licences granted by Hong Kong’s regulator in April. HKDAP launched through controlled beta access on Ethereum for institutions and professional investors this month. Standard Chartered plans tokenized money market fund subscription and settlement services during fourth quarter 2026. Anchorpoint reported 522,000 HKDAP circulating as of August 19 during the limited beta rollout period. Anchorpoint Financial issues HKDAP, short for “HKD At Par,” under licence FRS01 from the Hong Kong Monetary Authority. Standard Chartered is Anchorpoint’s largest shareholder and established the company with HKT and Animoca Brands. Standard Chartered becomes the first bank to distribute a Hong Kong dollar stablecoin, one of the first significant non dollar stablecoins"We've talked about the fact that stablecoins are eating...