Standard Chartered First Bank to Distribute Hong Kong Dollar Stablecoin HKDAP

Standard Chartered has become the first bank to distribute a Hong Kong dollar stablecoin. The London-based bank is helping its eligible institutional clients and partners integrate the HKDAP, issued by Anchorpoint Financial, of which Standard Chartered is a majority shareholder.

The initial rollout will focus on institutional payments and settlement before adding more access channels and cross-border applications. Use cases for the HKDAP include market fund subscriptions, settlement with asset managers, intragroup settlement across the bank's global network, and cross-border payments.

Anchorpoint Financial began a limited rollout of HKDAP on August 12, four months after securing one of the city's first two issuer licenses. HSBC, the other initial licensee, is preparing its stablecoin for distribution in the second half of 2026.