Standard Chartered first bank to distribute Hong Kong HKDAP stablecoin

Standard Chartered is the first bank to distribute the regulated Hong Kong stablecoin HKDAP. The bank is offering the coin, issued by Anchorpoint Financial Limited, to eligible institutional clients and partners. Standard Chartered is thus taking a concrete step towards broader adoption of digital assets in the Hong Kong financial system.

In brief:

• Standard Chartered becomes the first bank authorised to distribute HKDAP, the Hong Kong dollar-pegged stablecoin from Anchorpoint Financial.
• The bank plans to offer tokenised money market fund services in the fourth quarter and is testing HKDAP for internal settlement within the group.
• Cross-border payments and treasury management are also being explored as potential applications.

First bank to distribute regulated stablecoin

Standard Chartered Bank Hong Kong (SCBHK) announced on 24 August 2026 that it will become an authorised distributor of HKDAP, in full “HKD At Par”. This is the first regulated stablecoin pegged to the Hong Kong dollar, issued by Anchorpoint Financial Limited.

SCBHK is thus the first bank to act as an initial distributor of HKDAP. The bank is targeting institutional clients and partners who want to integrate the stablecoin into their business operations. The aim is to enable more efficient and cheaper transactions, according to the announcement.

Concrete plans for the fourth quarter

In the fourth quarter of 2026, Standard Chartered plans to launch services for the subscription and settlement of tokenised money market funds, together with asset managers. The bank is also testing HKDAP internally for settlement within its own group.

The bank is also exploring whether the stablecoin is suitable for cross-border payments and treasury management. The CEO of Circle previously said that stablecoins solve real financial problems, a view that appears to support Standard Chartered’s move. The bank expects to introduce more commercial applications in the coming months as the roll-out of HKDAP progresses.