Anchorpoint rolls out a HKD-backed stablecoin for institutional and professional investors, targeting broader retail use by late 2026.
Standard Chartered’s joint venture Anchorpoint Financial has initiated the rollout of its Hong Kong dollar-backed stablecoin, HKD At Par (HKDAP), starting with institutional distributors and professional investors. The stablecoin aims to facilitate commercial applications, including payments and settlements, with authorized distributors enabling conversions between HKDAP and fiat currency for corporate and institutional users.
The launch follows approval from the Hong Kong Monetary Authority in April, alongside HSBC’s similar initiative. Anchorpoint plans to expand retail adoption by the end of 2026, contingent on market conditions, using a business-to-business-to-consumer model to integrate regulated tokenized money into real-economy applications.
Dominic Maffei, Anchorpoint’s CEO, emphasized the focus on demonstrating the value of regulated tokenized money in real-world settings. The venture, backed by Animoca Brands and Hong Kong Telecommunications, seeks to leverage existing client networks for broader integration.