Standard Chartered Bank (Hong Kong) Limited (SCBHK) has become the first bank distributor of HKDAP, the Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial.

The bank is now actively engaging with eligible institutional clients and partners to use the token in their business activities.

The bank’s initial use cases span plans tokenised money market fund subscriptions, intragroup settlement activities to facilitate treasury and liquidity management, as well as cross-border payments.

Mary Huen Wai-yi
Mary Huen

“Standard Chartered is pleased to be the first bank distributor to provide eligible clients with secure access to the market-first Hong Kong dollar-backed stablecoin,” said Mary Huen, CEO, Hong Kong and Greater China & North Asia, Standard Chartered.

Dominic Maffei, CEO and Co-founder of Anchorpoint, added,

Dominic Maffei
Dominic Maffei

“Leveraging the bank’s international network and digital asset expertise will help expand commercial and cross-border opportunities with HKDAP, strengthening the ecosystem participation needed for the next phase of digital asset innovation.”

Anchorpoint Financial was established in February 2025 as a joint venture between SCBHK, HKT and Animoca Brands.

It was among the first two entities to receive a stablecoin issuer licence from the Hong Kong Monetary Authority, granted alongside HSBC in April 2026, and began a limited institutional rollout of HKDAP in August 2026, with retail access expected only by the end of the year.

Featured image edited by Fintech News Hong Kong based on an image by wirestock on Magnific