Anchorpoint launches HKDAP Hong Kong dollar stablecoin on Ethereum for institutions

Anchorpoint Financial/HKDAP (HKD At Par)

Anchorpoint began the first phase of HKDAP, letting authorised distributors swap the token for cash for institutions, companies and professional investors. HashKey Exchange completed the first mint and redemption. The focus is cross-border payments and settling tokenized real-world assets; retail access is targeted by year-end.

• Runs on Ethereum mainnet; OSL tested the full mint-transfer-redeem cycle in May 2026.
• Cash for reserves flows in through Standard Chartered's banking systems.
• HashKey Exchange and OSL Group are the authorised distributors.
• Retail users are excluded in phase 1; retail access targeted by end of 2026.