Overview
- Anchorpoint began a phased beta rollout on Wednesday that gives authorised distributors and professional and institutional clients live access to HKDAP for integration into commercial flows.
- HKDAP is designed to hold a strict one-to-one peg to the Hong Kong dollar with segregated high-quality HKD reserves held under the Hong Kong Monetary Authority’s rules.
- Anchorpoint validated bank-to-chain operations on the Ethereum mainnet in May 2026 by completing end-to-end mint, transfer and redemption tests before moving to live institutional distribution.
- The venture is using a B2B2C model that names licensed distributors such as HashKey and OSL to mint, redeem and convert HKDAP to fiat, and HashKey has completed an initial minting and redemption transaction.
- The rollout follows the Stablecoins Ordinance that took effect in August 2025 and the HKMA’s April 2026 issuer licences to Anchorpoint and HSBC, a framework that limits retail access until issuers meet strict reserve, governance and KYC requirements and that could shape Hong Kong’s role as a tokenization hub.