Standard Chartered Taps HKDAP for Tokenized Fund Settlements
RWA Signal Insight
StablecoinsStandard Chartered Bank (Hong Kong) Limited (SCBHK) has become the first authorized distributor of HKDAP, a Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial Limited. Anchorpoint, a joint venture between SCBHK, HKT, and Animoca Brands, received its stablecoin issuer license from the Hong Kong Monetary Authority in April 2026 under the Stablecoins Ordinance. This development marks a significant step in integrating regulated stablecoins into institutional financial workflows within the region. SCBHK plans a phased rollout focusing on tokenized money market fund subscriptions, treasury settlement, and cross-border payments. By leveraging HKDAP for 24/7 on-chain settlement, the bank aims to enhance liquidity management and operational efficiency for institutional clients. Tokenized money market fund activities are scheduled to commence in the fourth quarter of 2026, involving both local and international asset managers. This initiative highlights the growing institutional adoption of programmable, regulated stablecoins to modernize traditional financial infrastructure and cross-border transaction processes.
Key points
- SCBHK is the first bank to act as an authorized distributor for HKDAP.
- Anchorpoint Financial Limited holds a stablecoin license under Hong Kong's Stablecoins Ordinance.
- Tokenized money market fund settlements are scheduled to launch in Q4 2026.
- HKDAP supports 24/7 on-chain settlement for treasury and cross-border payment use cases.
Background
The Stablecoins Ordinance is a regulatory framework introduced by the Hong Kong Monetary Authority to govern the issuance and management of stablecoins. It mandates that issuers maintain full backing with high-quality reserve assets and adhere to strict anti-money laundering and redemption requirements. This framework is designed to provide a secure environment for institutional adoption of digital assets.