Anchorpoint Financial is reportedly preparing to launch its regulated Hong Kong Dollar-backed stablecoin, HKDAP, in July, as reported by The Standard.
The joint venture, backed by Standard Chartered Hong Kong, HKT, and Animoca Brands, secured one of the city’s first stablecoin issuer licenses from the Hong Kong Monetary Authority (HKMA) in April.
Anchorpoint expects licensed virtual asset trading platforms, including OSL Group and HashKey Exchange, to act as distributors for the token.
The firm stated it is continuing preparatory work for a phased issuance of HKDAP and will provide updates in due course.
The company is adopting a business-to-business-to-consumer model for the stablecoin. This approach will allow retail users to access HKDAP through authorised partner platforms rather than directly from the issuer.
In May, Anchorpoint completed test transfers of HKDAP on the Ethereum mainnet in collaboration with OSL.
The trial covered the full lifecycle of fiat funding into reserve assets using Standard Chartered’s banking infrastructure.
The venture aims to use HKDAP to facilitate cross-border payments and support the settlement of tokenised real-world assets.
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