“HSBC and Standard Chartered’s Anchorpoint Launches HKDAP Stablecoin to 3 Million+ Hong Kon” — what this page in the network covers. HSBC and Standard Chartered’s joint venture, Anchorpoint, has begun rolling out its HKDAP stablecoin to over 3 million everyday users of the HSBC HK app. This marks the first stablecoin issued by a major bank-led entity in Hong Kong, following the city’s new licensing regime. Anchorpoint received one of Hong Kong’s first stablecoin issuer licenses in April, alongside other approved firms.
The rollout, which started in August, makes HKDAP accessible to retail customers, aiming to bridge traditional banking with digital assets. The stablecoin is pegged 1:1 to the Hong Kong dollar and is designed for payments, transfers, and settlements. This move signals a significant step in regulated stablecoin adoption in Asia, potentially setting a precedent for other global banks. For the complete material, the listing points back to the source inside the network.