Standard Chartered becomes first bank to distribute a regulated Hong Kong dollar stablecoin
Standard Chartered to distribute Hong Kong’s regulated stablecoin HKDAP
Standard Chartered, a London-based bank with $850 billion in assets, has become the first bank to distribute a regulated Hong Kong dollar stablecoin. The bank will offer Anchorpoint Financial’s HKDAP to eligible institutional clients and partners.
A stablecoin is a type of digital currency designed to maintain a stable value by being pegged to a traditional currency, like the Hong Kong dollar. HKDAP is one of only two stablecoins licensed by Hong Kong regulators.
The move marks a significant step in bringing regulated stablecoins into mainstream banking services.
Key details of the distribution
- Standard Chartered will initially help institutional clients and partners integrate HKDAP.
- Planned uses include fund subscriptions, settlements with asset managers, internal transfers, and cross-border payments.
- Anchorpoint Financial began a limited rollout of HKDAP on August 12, focusing on institutional payments and settlements.
- HSBC, the other licensed issuer, plans to launch its stablecoin in the second half of 2026.
What Standard Chartered announced
In an emailed statement, Standard Chartered confirmed it will distribute HKDAP, of which it is a majority shareholder. The bank plans to introduce new commercial applications for HKDAP over the coming month, targeting financial transactions such as market fund subscriptions and cross-border payments.
What is confirmed
- Standard Chartered is the first bank to distribute a regulated Hong Kong dollar stablecoin.
- HKDAP is issued by Anchorpoint Financial and is one of two licensed stablecoins in Hong Kong.
- The stablecoin will initially be available to institutional clients and partners.
- Anchorpoint Financial began its limited rollout on August 12.
What remains unclear
- The exact timeline for broader public access to HKDAP is not specified.
- It is unclear how HSBC’s stablecoin will differ in use cases or distribution compared to HKDAP.
Why this matters for Hong Kong’s crypto market
This development signals growing integration between traditional banking and regulated digital assets. By distributing HKDAP, Standard Chartered is helping to bridge the gap between conventional finance and crypto, potentially making stablecoins more accessible for institutional transactions.
Hong Kong’s regulatory framework for stablecoins aims to provide a secure environment for digital currency use, which could encourage more banks and financial institutions to adopt similar services.
