The bank will distribute Hong Kong’s first regulated stablecoin to institutional clients and test cross-border payment use cases.
Standard Chartered has begun distributing HKDAP, a Hong Kong-regulated stablecoin issued by Anchorpoint Financial, to eligible institutional clients and partners. This marks the first time a bank has offered a regulated stablecoin in the region, targeting asset managers and corporate treasury operations.
The move follows Hong Kong’s regulatory framework for stablecoins, with Standard Chartered planning tokenized money market fund services in Q4. The bank is also testing HKDAP for intragroup settlements and exploring cross-border payment applications.
No immediate market reaction was reported, but the initiative signals growing institutional adoption of regulated digital assets in Asia.