Standard Chartered Becomes First Bank Distributor of Regulated HKD Stablecoin

Standard Chartered Bank (Hong Kong) has become the first bank authorized to distribute HKDAP, a regulated Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial. The announcement comes as part of Hong Kong's push to bring tokenized money into mainstream financial infrastructure.

The bank plans to engage with eligible institutional clients and partners that want to integrate HKDAP into payments, settlement, and treasury operations. Standard Chartered is focusing on commercial applications where an on-chain Hong Kong dollar could reduce settlement friction and allow transactions to operate outside traditional banking hours.

HKDAP, short for HKD At Par, was issued by Anchorpoint Financial, a joint venture established by Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands. The bank holds the largest shareholder position in Anchorpoint but is now an authorized distributor of the stablecoin.

The distribution model could make it easier for institutional users to access tokenized finance. A regulated HKD stablecoin distributed by banks could help bridge the gap between traditional banking systems and blockchain technology, making it simpler for companies to integrate tokenized assets into their financial operations.