Standard Chartered Leads HKDAP Stablecoin Distribution in Hong Kong

Standard Chartered Bank Hong Kong has become the first bank to distribute HKDAP stablecoin, marking a significant breakthrough in Hong Kong's push for a homegrown, regulated alternative to dollar-pegged tokens. On August 24, 2026, Standard Chartered extended access to eligible institutional clients through authorized distributors.

HKDAP operates under one of the two stablecoin issuer licenses granted by the Hong Kong Monetary Authority in April 2026. The token runs on Ethereum and is designed to hold a value of HK$1 per token, adhering to requirements under Hong Kong's Stablecoins Ordinance. Anchorpoint Financial issues the token under license FRS01.

Standard Chartered plans to launch tokenized money market fund subscription and settlement services in Q4 2026, building on its existing infrastructure for China Asset Management Hong Kong's tokenized money market fund and previous testing of tokenized deposit settlement through Project Ensemble.