HKDAP, a Hong Kong dollar-backed stablecoin issued by Customary Chartered-backed enterprise Anchorpoint, started its part 1 institutional rollout on August 12, 2026.
The launch provides approved distributors {and professional} traders preliminary entry to HKDAP by means of Beta Entry, 4 months after Anchorpoint obtained certainly one of Hong Kong’s first two stablecoin issuer licenses from the Hong Kong Financial Authority in April 2026.
Anchorpoint is a three way partnership between Customary Chartered Financial institution Hong Kong, HKT, and Animoca Manufacturers.
Anchorpoint Opens HKDAP to Institutional Distributors
Anchorpoint’s personal announcement describes part 1 as a B2B2C mannequin. Approved distributors will deal with conversion between HKDAP and fiat foreign money for establishments, company customers, {and professional} traders, utilizing their current shopper networks somewhat than opening the token to retail customers instantly.
Anchorpoint says its preliminary use instances heart on cross-border funds and the settlement of tokenized real-world belongings, a purpose just like what Western Union pursued when it moved its remittance rails onto public blockchain infrastructure with broader retail entry focused as early as late 2026 relying on market situations.
HashKey Alternate turned one of many first approved distributors named within the rollout. In line with the joint announcement from HashKey and Anchorpoint, HashKey accomplished its first HKDAP minting and redemption transaction with eligible purchasers, together with fiat on- and off-ramp providers.
OSL Group additionally joined as a certified distributor by means of OSL HK, its licensed Hong Kong trade, supporting fiat-to-HKDAP conversion and settlement providers.
Establishments First, Retail Entry Nonetheless on Maintain
Entry to HKDAP throughout Beta stays restricted to establishments {and professional} traders transferring funds by means of approved distributors like HashKey and OSL.
Retail crypto customers on Hong Kong-licensed exchanges can not but convert into or out of HKDAP straight, and Anchorpoint has tied wider retail availability to market situations and to what number of further ecosystem companions grow to be operationally prepared, with a goal as early as the top of 2026.
Whether or not that timeline holds will rely on how shortly distributors past HashKey and OSL activate their very own HKDAP entry, a tempo value watching alongside the newest crypto information popping out of Hong Kong’s regulated stablecoin market this yr.
What this implies for you: A regulated, bank-backed digital Hong Kong greenback is now reside in restricted type, and it indicators the type of institutional plumbing that might ultimately help sooner, cheaper cross-border settlement for on a regular basis crypto customers too.
This text is for informational functions solely and doesn’t represent monetary recommendation. Do your individual analysis earlier than making any funding choices.