Standard Chartered-backed venture eyes Hong Kong stablecoin

• Anchorpoint plans to launch a Hong Kong dollar stablecoin called HKDAP.
• The launch will depend on Hong Kong's new stablecoin licensing rules.
• The move shows growing interest in regulated digital payments across Asia.

Anchorpoint, backed by Standard Chartered, is reportedly preparing to launch a Hong Kong dollar stablecoin called HKDAP.

The stablecoin could launch after Hong Kong's new licensing rules for stablecoin issuers take effect.

The report said the token will target businesses looking for faster and more efficient digital payments.

Hong Kong has introduced a new regulatory framework to support stablecoins while strengthening investor protection.

More banks and financial firms are exploring stablecoins as demand grows for blockchain-based payments and settlements.

Standard Chartered has expanded its digital asset business through investments in blockchain and tokenisation projects.

The planned launch highlights rising competition as financial firms race to build regulated digital payment products in Asia.