Anchorpoint Launches Beta Stablecoin HKDAP With HashKey and OSL

Anchorpoint Financial, a subsidiary of Standard Chartered Bank, has launched the beta version of its Hong Kong dollar-pegged stablecoin HKDAP. The launch is in partnership with HashKey and OSL Group, which have been authorized as distributors for institutional clients.

HKDAP stands for 'Hong Kong dollar at par,' indicating its one-to-one peg to the Hong Kong dollar. The stablecoin's primary use cases in this initial phase are cross-border payments and the settlement and distribution of tokenized real-world assets (RWAs).

Anchorpoint ran a controlled test with OSL Group in May before opening access to other distributors, confirming that every stage of the token lifecycle works as expected. The company plans to work with its partners to expand the token's commercial applications.