Anchorpoint Pushes Back HKDAP Rollout to August

Anchorpoint Financial, backed by Standard Chartered (Hong Kong), HKT and Animoca Brands, is pushing back its public rollout of Hong Kong dollar stablecoin HKDAP to August. The project had previously missed its expected second-quarter and end-of-July timelines.

In an interview with the Hong Kong Economic Journal, Mary Huen, Standard Chartered Hong Kong and Greater China and North Asia CEO, said that work on the licensed stablecoin has continued since Anchorpoint received its issuer license from the Hong Kong Monetary Authority in April. She added that an announcement related to HKDAP is expected within August.

According to Huen, testing on public blockchain networks has been progressing to expand how HKDAP can be used, particularly for cross-border transactions. The Ethereum mainnet trial completed in May formed part of those preparations before commercial issuance.