Standard Chartered-Backed Anchorpoint Starts HKD Stablecoin Rollout in Hong Kong

Anchorpoint Financial has begun the first phase of its Hong Kong dollar stablecoin rollout, putting HKD At Par, or HKDAP, into limited circulation through authorised distributors and professional investors. The launch moves one of Hong Kong’s first licensed stablecoins from regulatory approval and testing into commercial use.

The Standard Chartered-backed venture is using a business-to-business-to-consumer model rather than distributing HKDAP directly to the public. Participating distributors will handle conversions between the stablecoin and fiat currency while integrating it into payment, settlement and other financial applications.

OSL Group said it is among the first authorised distributors in the Beta Access phase. Eligible professional investors can use OSL HK for HKDAP on- and off-ramps, trading and settlement, with tokenised finance, trade finance and cross-border payments among the initial areas being explored. OSL and Anchorpoint had already completed HKDAP minting, transfer and redemption tests on Ethereum mainnet in May.

OSL Group and Anchorpoint have completed test transfers of HKDAP, the first regulated Hong Kong Dollar-backed stablecoin, on Ethereum Mainnet.

The test covered HKD fiat funding, reserve backing, minting, transfer, and full redemption, supported by @StanChart’s banking… pic.twitter.com/d6sZ8oFBXr

— OSL (@osldotcom) May 13, 2026

From licence to live distribution

Anchorpoint was one of only two companies granted stablecoin issuer licences by the Hong Kong Monetary Authority on April 10, alongside HSBC. The licences were issued under Hong Kong’s Stablecoins Ordinance, which took effect on August 1, 2025.

The venture was established by Standard Chartered Bank (Hong Kong), HKT and Animoca Brands. When the licence was awarded, Anchorpoint said it planned a phased launch and would work with distributors and commercial partners on settlement, tokenised real-world assets and cross-border payment flows.

Anchorpoint CEO Dominic Maffei said the immediate focus is on commercial applications that demonstrate regulated tokenised money in payments and settlement. The company is targeting broader retail adoption as early as the end of 2026, although that timetable remains dependent on market conditions.