Anchorpoint Financial Limited
Anchorpoint, licensed by the HKMA as a stablecoin issuer, said it would issue HKDAP, a Hong Kong dollar-backed stablecoin, in phases from the second quarter of 2026 through authorised distributors.
- Status
- Live
- Announced
- (announcement)
- Stage
- Pilot
- Chain or network
- Ethereum mainnet
- Participants
- Standard Chartered Bank (Hong Kong), HKT, Animoca Brands
- Next review
Scorecard
As of the review on . Changes since the previous review are marked. How pilots are scored
| Ledger | Permissioned tokens on a public chain |
|---|---|
| Settlement | Stablecoin |
| Access | Whitelisted institutions or investors |
| Legal standing | Token is the legal record |
| Scale | Repeat |
What they said they would do
- MetIssue HKDAP with a phased approach from the second quarter of 2026. (by )
- OpenAdopt a business-to-business-to-consumer model, using selected authorised distributors to give the public access to HKDAP.
Decisions
Expanded
Phase 1 Beta Access began: authorised distributors, including HashKey Exchange and OSL, convert between HKDAP and fiat for institutions, corporates and professional investors.
Source: anchorpoint.hk
Expanded
Standard Chartered Bank (Hong Kong) became the first bank to act as an authorised distributor of HKDAP.
Source: anchorpoint.hk
Expanded
Payment Asia, OSL and Anchorpoint announced the first business payments in HKDAP: Payment Asia settled logistics fees with ShipAny and paid for staff hotel and workspace bookings through Flow, with same-day reconciliation, redemption and burn.
Source: prnewswire.com
Review history
Live Pilot
Anchorpoint minted HKDAP and ran live transfer tests on a public chain in the second quarter, then opened Beta Access to non-retail users. Access is limited to whitelisted wallets of corporates and professional investors, so stage is pilot. Retail access, the second claim, is targeted for as early as end-2026.
Evidence: anchorpoint.hk, anchorpoint.hk
Live Pilot
Payment Asia used HKDAP for its first announced business payments, through OSL, still within Beta Access. The rubric is unchanged: holders remain whitelisted non-retail users and no amounts were disclosed, so scale stays repeat.
Evidence: prnewswire.com
Contracts
- Ethereum mainnet:
0x87622385F960fcCB3121d6D0A9513bd1D9Bed6cA
What was announced
On 10 April 2026 the Hong Kong Monetary Authority (HKMA) granted Anchorpoint Financial one of the first two stablecoin issuer licences under the Stablecoins Ordinance (Cap. 656), licence number FRS01. Anchorpoint is a joint venture of Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, and a subsidiary of Standard Chartered. Its announcement said it would issue HKDAP (“HKD At Par”) in phases from the second quarter of 2026 and reach the public through selected authorised distributors. The three shareholders had taken part in the HKMA’s stablecoin issuer sandbox in 2024.
How it works
HKDAP runs on Ethereum mainnet at a single upgradeable proxy contract, which Anchorpoint lists on its FAQ page. Anchorpoint’s user alert states that every holder’s wallet must be whitelisted by at least one authorised distributor before it can transact, so ledger is public-permissioned and access is whitelisted. HKDAP is a direct liability of a licensed issuer, redeemable 1:1 in Hong Kong dollars and backed by reserves held on trust by Standard Chartered Trustee (Hong Kong), so legal is native. During Beta Access only corporates and professional investors can obtain it.
Record so far
Anchorpoint says it minted HKDAP and ran live transfer tests on a public chain in the second quarter, and OSL and Futu’s PantherTrade announced test transfers with Anchorpoint on 13 May 2026. That meets the first claim.
Phase 1 Beta Access opened on 12 August 2026, with HashKey Exchange and OSL as authorised distributors. Standard Chartered became the first bank distributor on 24 August. On 14 September Payment Asia, OSL and Anchorpoint announced the first business payments in HKDAP: Payment Asia paid ShipAny for delivering point-of-sale terminals and paid for staff hotel, day-stay and workspace bookings through the agency Flow. The release describes the full cycle from fiat funding and minting to same-day reconciliation, redemption and burn, but gives no amounts. Anchorpoint publishes weekly reserve statements: as of 23 September 2026 it reported HKDAP circulation of 1,006,890 and reserves of 2,110,045, both in Hong Kong dollars. Etherscan showed 12 holding addresses when checked for this entry. Retail access, the substance of the second claim, has not started.
For Ethereum
HKDAP puts a licensed Hong Kong dollar stablecoin on Ethereum mainnet as an ERC-20 behind an EIP-1967 proxy. The design keeps the chain public and the holder set closed: transfers only work between wallets a distributor has verified, and Etherscan shows freeze and blacklist functions in the contract. It is a test of whether a bank-backed issuer can meet Hong Kong’s rules on a permissionless chain with contract-level controls.
What to watch
Anchorpoint targets Full Launch, with retail access and audited reserve attestations, as early as end-2026. Retail access would meet the second claim and move access to open if wallets no longer need whitelisting. Deployment on a second chain would add a contract address.