Standard Chartered Becomes Bank Distributor for Regulated Stablecoin in Hong Kong

The Hong Kong unit of international banking group Standard Chartered became the first bank among the initial distributors of HKDAP (HKD At Par), issued by Anchorpoint Financial. Standard Chartered is already working with institutional clients and partners to integrate the stablecoin into commercial operations.

Standard Chartered Hong Kong is Anchorpoint’s largest shareholder and views HKDAP as a programmable, interoperable on-chain instrument for 24/7 settlement. Its initial use cases include:

• subscriptions and settlement for tokenized money market funds;
• intragroup settlement for treasury and liquidity management;
• cross-border payments.

In Q4 2026, Standard Chartered plans to launch subscription and settlement services for tokenized money market funds in partnership with major international and Hong Kong asset managers. The bank also plans to introduce HKDAP-based settlement within its own international network in the near term. It intends to use the experience as a model for corporate clients, primarily multinational companies engaged in cross-border transactions.

According to Standard Chartered, the bank saw significant client interest in practical applications for HKDAP. Payments, settlement, treasury management, and other tokenized asset transactions are among its priority areas for commercialization.

Anchorpoint Financial was established in February 2025 as a joint venture between Standard Chartered Hong Kong and Animoca Brands. In April 2026, Anchorpoint became one of the first companies to receive a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA).