HKD Stablecoin Market Gains Momentum as Sovereign Era Takes Shape

Standard Chartered Bank (Hong Kong) Limited has become an authorized distributor of HKDAP, the first regulated Hong Kong Dollar-backed stablecoin issued by Anchorpoint Financial Limited. This milestone reflects Standard Chartered's commitment to advancing innovation and its belief in the transformative potential of tokenized money.

The bank will support use cases and engage with eligible institutional clients and partners to integrate HKDAP into their business activities. Initial use cases include tokenized money market fund subscriptions and settlements, intragroup settlement activities, and cross-border payments.

The global stablecoin market has reached new heights over the past couple of years, reaching a total market cap of over $300 billion in December 2025. The sovereign stablecoin era is taking shape, with the United Arab Emirates emerging as a regional template for replicating the success of USD stablecoins.