Standard Chartered distributes Hong Kong stablecoin

• Standard Chartered will distribute Anchorpoint Financial’s HKDAP to eligible institutional clients and partners.
• HKDAP began its limited institutional rollout on 12 August.
• The bank plans to support settlements, fund subscriptions and cross-border payments using HKDAP.

Standard Chartered will distribute Anchorpoint Financial’s HKDAP to eligible institutional clients and partners.

The bank is the first to distribute one of Hong Kong’s two regulated stablecoins, according to CoinDesk.

Standard Chartered said it will initially help eligible clients and partners integrate HKDAP into their operations.

Planned uses include fund subscriptions, asset-manager settlements, internal transfers and cross-border payments.

The CoinDesk report did not state a specific share price reaction following the announcement.

Anchorpoint Financial began its limited institutional rollout of HKDAP on 12 August.

HSBC holds Hong Kong’s other stablecoin licence and plans to launch its stablecoin in late 2026, according to CoinDesk.