Hong Kong's first licensed HKD-pegged stablecoin begins phase 1 deployment, backed by Standard Chartered, HKT, and Animoca BrandsAnchorpoint Financial Limited has kicked off the first phase of its HKDAP stablecoin rollout, bringing a regulated Hong Kong dollar-pegged token to institutional clients for payments and asset settlement. HKDAP, short for HKD At Par, is one of the first stablecoins issued under Hong Kong’s Stablecoins Ordinance. Rather than selling tokens directly to retail users, Anchorpoint distributes HKDAP through authorized partners for payments, trade finance, and tokenized asset settlement. What the token actually doesEach HKDAP token is pegged 1:1 to Hong Kong dollar reserves held in segregated accounts, compliant with HKMA regulations. As of May 2026, no HKDAP tokens were in public circulation.