HKMA-Approved Stablecoin HKDAP Delayed to August by Standard Chartered's Anchorpoint

Anchorpoint Financial, backed by Standard Chartered, has pushed back the public rollout of its Hong Kong dollar stablecoin HKDAP to August. The project initially missed its second-quarter and end-of-July timelines.

The HKMA issued Anchorpoint a license in April to operate as a fiat-referenced stablecoin issuer under Hong Kong's Stablecoins Ordinance.

Anchorpoint has continued testing public blockchain infrastructure for cross-border payments and tokenized assets, with the aim of providing an alternative settlement option for enterprises operating across borders.