Anchorpoint Plans Native Issuance of Hong Kong Dollar Stablecoin HKDAP on Solana

BSCN·2026-10-30 14:19:44 UTC

Standard Chartered-backed Anchorpoint plans native minting and redemption of its licensed Hong Kong dollar stablecoin HKDAP on Solana, under an MOU with the Solana Foundation.

Anchorpoint, a licensed Hong Kong stablecoin issuer, plans to bring $HKDAP, its Hong Kong dollar stablecoin, to the @Solana blockchain. The move is aimed at near-instant settlement for cross-border trade in Asia and at linking retail checkout payments with tokenized real-world assets.

What the Solana Arrangement Covers

Anchorpoint was established by Standard Chartered Bank, Hong Kong Telecommunications, and Animoca Brands. HKDAP will be natively minted and redeemed on Solana, with use cases covering retail payments to tokenized assets. The partnership marks HKDAP's first collaboration with a public blockchain network.

Native issuance means Anchorpoint can create and redeem the token directly on the network. Solana described the arrangement as a memorandum of understanding. The MOU is also meant to provide a regulated channel for global capital to enter Hong Kong dollar payments, products, and tokenized assets. The Solana Foundation will join Anchorpoint's Tokenised Money Adoption Programme as a strategic partner, alongside PwC.

The timing of the rollout remains unclear. Anchorpoint's release gives no go-live date , according to KuCoin News. The Defiant reported that the licensed Hong Kong dollar stablecoin remains in Ethereum-only beta access. The same report noted that HSBC's RedCoin has already launched for retail payments through PayMe.

Regulatory Backdrop in Hong Kong

HKDAP is issued under Hong Kong's new stablecoin licensing regime. The Hong Kong Monetary Authority (HKMA) granted stablecoin issuer licences to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited on 10 April 2026. The Stablecoins Ordinance, in effect since 2025, sets a mandatory licensing regime for entities issuing fiat-referenced stablecoins in Hong Kong. The rule also covers stablecoins that reference the Hong Kong dollar when they are issued elsewhere.

On supply, Anchorpoint's dashboard shows about 103.1 million HKDAP in circulation , and each token has a par value of one Hong Kong dollar.

The HKMA has also urged caution over look-alike tokens. On 28 April 2026 it warned about counterfeit tokens using the tickers HKDAP and HSBC , according to a legal summary of the regime. Users should confirm they are dealing with the licensed issuer, since the HKMA reminds the public to use stablecoins only through regulated channels and to check its register if in doubt.

If the Solana rollout proceeds as described, it would put a regulated Hong Kong dollar token on a high-throughput public network, a step beyond the Ethereum-only beta access reported to date.