Home›Crypto›Stablecoins›Standard Chartered to distribute Hong Kong dollar HKDA…

Standard Chartered to distribute Hong Kong dollar HKDAP stablecoin

The bank plans to start with eligible institutional clients and partners, targeting uses such as fund subscriptions, asset-manager settlements, and cross-border payments.

Reported · Written up by our desk · Stablecoins

Standard Chartered said it will become the first bank to distribute HKDAP, a Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial.

The bank plans an initial rollout aimed at eligible institutional clients and partners to integrate HKDAP, with intended applications including market fund subscriptions, settlements with asset managers, internal transfers across its network, and cross-border payments, according to CoinDesk.

Anchorpoint began a limited institutional rollout of HKDAP on Aug. 12, after securing one of Hong Kong’s first two issuer licenses.

CoinDesk also noted that HSBC, the other initial licensee, is preparing its stablecoin for the second half of 2026, while Standard Chartered said it plans to roll out additional HKDAP commercial applications over the coming month.

More like this

Sources