Anchorpoint Financial’s HKDAP stablecoin has moved from an initial institutional beta into live financial-services use cases in Hong Kong and proposed cross-border trade settlement with the UAE and wider Middle East. The Hong Kong dollar-pegged token began phase-one beta access on Aug. 12, with HashKey Exchange and YF Life Insurance International Limited using it to reduce life insurance premium settlement from the usual two to three business days to near real-time in live minting, redemption, and insurance subscription and redemption flows using actual funds. HashKey now plans to extend HKDAP into cross-border trade transactions with the UAE and broader Middle East, and to use it for commercial insurance premium payouts with digital asset insurer OneDegree. Trade between Hong Kong and the UAE totaled $48.95 billion in 2025, nearly double Hong Kong’s roughly $24 billion trade with the rest of the Middle East, highlighting why the corridor is being targeted. HKDAP is issued by Anchorpoint, backed 1:1 by Hong Kong dollar reserves under Hong Kong’s Stablecoins Ordinance framework, and is described as the first Hong Kong dollar-pegged stablecoin to go live under the city’s regulatory regime. HashKey and OSL are the first issuer-authorised distributors, with OSL providing liquidity and trading support during the beta. Retail access could begin by the end of 2026, subject to market conditions.