Standard Chartered becomes first bank distributor of HKDAP to unlock real-economy benefits of HKD stablecoins

Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) announced that it has become an authorised distributor of HKDAP (“HKD At Par”), the first regulated Hong Kong Dollar-backed stablecoin issued by Anchorpoint Financial Limited (“Anchorpoint”).

As the first bank to onboard as an initial distributor, SCBHK is ready to support use cases and actively engaging with eligible institutional clients and partners to integrate HKDAP into their business activities, unlocking real-economy benefits through more efficient and cost-effective transactions and operations. As HKDAP advances through its phased rollout, SCBHK expects to introduce a number of new commercial applications over the coming months, laying the foundation for broader adoption and supporting the development of Hong Kong’s digital asset ecosystem.

Being the largest shareholder of Anchorpoint, SCBHK has been working closely with its subsidiary to bring to market a diverse range of real-world use cases that leverage HKDAP’s native 24/7 capabilities as a programmable and interoperable on-chain settlement instrument. Initial use cases span tokenised money market fund subscription and settlement, intragroup settlement activities to facilitate treasury and liquidity management, as well as cross-border payments, where tokenised money can reduce operational friction while improving capital mobility and transaction predictability.

Among the initial use cases, SCBHK plans to launch tokenised money market fund subscriptions and settlements with leading international and local asset managers in Q4. SCBHK also intends to adopt the intragroup settlement use case across its network in the near term. These pilots will serve as a blueprint for other institutional clients seeking to optimise their commercial activities with on-chain stablecoin, particularly multinational corporations looking to enhance cross-border application. This, in turn, will reinforce Hong Kong’s position as a leading international financial and corporate treasury centre.

Mary Huen, Chief Executive Officer, Hong Kong and Greater China & North Asia, Standard Chartered, said, “Standard Chartered is pleased to be the first bank distributor to provide eligible clients with secure access to the market-first Hong Kong dollar-backed stablecoin. This milestone reflects our commitment to advancing innovation to shape the future of finance and our belief in the transformative potential of tokenised money to support the real-world economy. Since Anchorpoint received its stablecoin issuer licence, we have seen strong interest from clients exploring how HKDAP can support their business needs. We look forward to enabling new opportunities across payments, settlement, treasury management and other commercial applications, helping clients realise greater efficiency and value from tokenised money while contributing to the growth of Hong Kong as a global digital assets hub.”

Dominic Maffei, Chief Executive Officer and Co-Founder, Anchorpoint, said, “The participation of Standard Chartered as an authorised distributor marks an important milestone in the growth of the HKDAP ecosystem. Achieving broad adoption of regulated tokenised money requires trusted channels that can connect new digital infrastructure with market needs. Leveraging the bank’s international network and digital asset expertise will help expand commercial and cross-border opportunities with HKDAP, strengthening the ecosystem participation needed for the next phase of digital asset innovation.”

Anchorpoint

Anchorpoint Financial Limited is a subsidiary of Standard Chartered Bank (Hong Kong) Limited (SCBHK) and a joint venture established by SCBHK, HKT, and Animoca Brands in February 2025. With the vision of utilising tokenised money to rewire and supplement existing financial infrastructure for the betterment of the real economy, the initial goal is to build and advance the regulated HKD stablecoin “HKDAP” to serve as a secure tokenised medium of exchange for digital economy and to facilitate international payments and capital flows. It is one of the first entities granted with a stablecoin issuer licence (licence number FRS01) by the Hong Kong Monetary Authority under the Stablecoins Ordinance in April 2026.

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Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.