- HKDAP, the Hong Kong greenback stablecoin, could possibly be launched as early as the top of this month.
- Commonplace Chartered and Anchorpoint will collectively launch a regulated token.
- HKDAP will initially goal institutional funds and tokenized asset funds.
Hong Kong’s regulated stablecoin market is ready to take a brand new step, with HKDAP, a Hong Kong dollar-pegged stablecoin developed by Anchor Level Monetary Know-how and Commonplace Chartered Financial institution (Hong Kong), more likely to be formally introduced as early as the top of this month, in keeping with a market report.
The issuance shall be one of many first regulated stablecoins issued underneath Hong Kong’s new licensing regime, supporting the town’s technique to introduce digital property into the standard monetary system by way of licensed banks and controlled establishments.
HKDAP announcement anticipated inside weeks
Anchorpoint Monetary Know-how, led by Commonplace Chartered Financial institution (Hong Kong), is getting ready a joint announcement to introduce HKDAP, a stablecoin absolutely pegged to the Hong Kong greenback, in keeping with native market stories.
The announcement is predicted to be made by the top of this month. Anchor Level was one of many first establishments to obtain a stablecoin issuance license from the Hong Kong Financial Authority (HKMA) in April underneath the town’s new stablecoin ordinance.
HKDAP shall be a regulated Hong Kong greenback stablecoin by Commonplace Chartered, and is predicted so as to add one other licensed digital fee methodology to the town’s rising digital asset ecosystem.
Hong Kong adopts bank-led mannequin
The launch follows the HKMA’s resolution in April to grant the primary two stablecoin licenses to HSBC and Anchor Level Monetary, the latter a three way partnership involving Commonplace Chartered, Hong Kong Telecommunications and Animoca Manufacturers.
The approval comes eight months after Hong Kong’s Stablecoin Ordinance got here into impact on August 1, 2025. Of the 36 formal purposes submitted by the September 30 deadline, solely two have been authorised, giving an approval price of about 5.6%.
The regulator has repeatedly indicated that it plans to difficulty solely a small variety of licenses within the first spherical, giving precedence to establishments with established governance, reserve administration, threat administration and anti-money laundering techniques.
Apparently, this licensing resolution indicated that Hong Kong intends to construct its digital cash infrastructure round regulated banks fairly than crypto-native corporations.
Fee to the establishment is the highest precedence
HKDAP’s deployment technique could be very completely different from HSBC’s. HSBC plans to combine the Hong Kong greenback stablecoin into its PayMe and cell banking platforms for client funds, service provider transactions and funding subscriptions within the second half of 2026, whereas HKDAP is predicted to deal with institutional use circumstances first.
Stablecoins are designed to assist cross-border funds, tokenized asset settlement, provide chain finance, and different business-to-business monetary companies by way of a tiered B2B2C distribution mannequin.
Associated: Hong Kong prepares first stablecoin license for main banks
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