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Standard Chartered says HKDAP launch announcement due this month

Standard Chartered says HKDAP launch announcement due this month

Mary Huen said Anchorpoint Financial will distribute the Hong Kong dollar stablecoin through approved partners after a delayed launch announcement expected in August.

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Fact Check
The Hong Kong Economic Journal / HK01 primary report directly quotes Mary Huen, Standard Chartered's Hong Kong and Greater China CEO, stating a HKDAP announcement is expected within August, after the original Q2 2026 phased-issuance plan was delayed. It confirms the B2B2C model with Anchorpoint Financial distributing through appointed distributors. Crypto.news and Odaily independently corroborate the delayed timeline, the August announcement expectation, and distribution through approved partners. All specific claim elements are supported.
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Summary

Standard Chartered-backed Anchorpoint Financial expects to announce the commercial launch of its Hong Kong dollar stablecoin HKDAP within August after missing earlier second-quarter and end-of-July targets. Mary Huen said the project has continued technical work since Anchorpoint received a stablecoin issuer license from the Hong Kong Monetary Authority in April, including public blockchain testing aimed at cross-border payments and tokenized asset use cases. HKDAP is set to follow a B2B2C distribution model, with approved partners distributing the token to corporate and institutional clients rather than the issuer serving end users directly. Anchorpoint has said the stablecoin will be issued in phases, backed one-to-one by Hong Kong dollar reserves held in segregated accounts, and prepared for broader interoperability through Ethereum-based infrastructure.

Terms & Concepts
  • stablecoin: A token designed to maintain a stable value, typically by being backed by a fiat currency or similar reserves.
  • B2B2C: A business-to-business-to-consumer model in which a product reaches end users through intermediary partners.
  • tokenized assets: Assets represented digitally on a blockchain so they can be transferred or used in onchain applications.