Standard Chartered's Anchorpoint Launches Beta HKDAP Stablecoin With HashKey and OSL

Standard Chartered‘s stablecoin subsidiary Anchorpoint has entered the beta phase of its HKDAP (Hong Kong Dollar At Par) stablecoin, distributing through licensed Hong Kong digital asset exchanges HashKey and OSL. The launch follows the Hong Kong Monetary Authority (HKMA) granting its first two stablecoin issuer licences in April, to Anchorpoint and HSBC, and constitutes the first issuance of a regulated stablecoin under Hong Kong’s framework.

Access during the beta is restricted to institutions, corporates, and professional investors, with retail availability potentially opening before the end of the year. Anchorpoint operates a business-to-business-to-consumer model, meaning licensed distributors rather than Anchorpoint itself face end-users directly. HKMA rules require full identification of all stablecoin holders unless an issuer can satisfy the regulator that alternative risk mitigations are sufficient, a stricter baseline than most comparable jurisdictions. The institutional-first rollout eases that compliance burden considerably in the near term.

Anchorpoint’s two joint venture partners, web3 firm Animoca Brands and Hong Kong Telecom, add meaningful retail distribution reach for whenever that channel opens. Animoca’s Moca Network digital identity solution also positions as a candidate compliance layer for retail onboarding. Initial use cases centre on cross-border payments and tokenised securities settlement, two areas where a regulated, Hong Kong dollar-pegged stablecoin could reduce friction that existing rails have not eliminated.