Standard Chartered Rolls Out Hong Kong's First Regulated Stablecoin

Standard Chartered has become the first bank to distribute one of Hong Kong's regulated stablecoins, Anchorpoint Financial's HKDAP. The bank will provide its eligible institutional clients and partners with access to this digital currency for various financial applications.

The distribution of HKDAP began on August 12, when Anchorpoint Financial initiated a limited rollout among institutional clients. Standard Chartered aims to support the use of HKDAP in several areas, including settlements, fund subscriptions, cross-border payments, and internal transfers.

By integrating HKDAP into their operations, eligible clients and partners can leverage its benefits for financial transactions. The development is significant as Hong Kong's stablecoin market continues to grow, with HSBC holding the other regulated stablecoin licence and planning to launch its own stablecoin in late 2026.