HKDAP Stablecoin Launches for Institutional Investors in Hong Kong

Anchorpoint Financial's HKDAP stablecoin has launched for institutional and corporate investors in Hong Kong, marking a significant milestone in the city's regulated digital asset market. The launch comes after the Hong Kong Monetary Authority (HKMA) approved only two out of 36 stablecoin license applications, with Anchorpoint being one of them. The other approved applicant was HSBC.

HKDAP is pegged to the Hong Kong dollar and has been designed to meet the strict requirements imposed by Hong Kong's Stablecoins Ordinance. These include maintaining at least HK$25 million in paid-up capital and segregating stablecoin reserves from corporate funds. Additionally, holders must be able to redeem tokens at face value within one business day.

The rollout of HKDAP is gradual, with retail access expected around the end of 2026. However, the company has not confirmed a launch date or disclosed supply and trading-volume figures. The global stablecoin market is worth roughly $300 billion, with Tether accounting for about 61%. No non-US-dollar stablecoin has achieved comparable scale.