Standard Chartered-backed Anchorpoint Delays HKDAP Rollout to August

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

The company has been testing public blockchain infrastructure for cross-border payments and tokenized asset use, with a focus on business-to-business transactions.

HKDAP will be distributed through approved partners under a B2B2C model instead of being issued directly to end users. Anchorpoint plans to reveal its authorized distributors after announcing the commercial launch of HKDAP.