Standard Chartered-Backed Anchorpoint Brings HKDAP Stablecoin to Solana

Anchorpoint is taking its Hong Kong dollar-backed stablecoin on-chain. The consortium, licensed by the Hong Kong Monetary Authority to issue HKD-pegged tokens, has struck a strategic collaboration with the Solana Foundation to push its HKDAP stablecoin into retail and institutional use, according to news.bitcoin.com.

The mechanics matter here: the tie-up covers native minting and redemption of HKDAP directly on Solana, with near-instant settlement. Anchorpoint frames the push as a way to widen the Hong Kong Dollar's reach in international markets and bolster the city's standing as a treasury and capital markets hub. Standard Chartered leads the consortium, with Animoca Brands and HKT alongside it.

The ambition doesn't stop at plain-vanilla stablecoin transfers. Anchorpoint said it wants HKDAP to power tokenized products too, using Solana as the delivery vehicle — a sign the consortium is chasing securities-style use cases, not just payments.

Lu Yin, the Solana Foundation's head of APAC, said HKDAP's arrival could make Hong Kong Dollar-denominated digital value more accessible for real-world applications, marrying regulated financial plumbing with the speed and scale blockchains offer. Anchorpoint co-founder and CEO Dominic Maffei called the collaboration a blend of regulated tokenized money infrastructure and a leading public blockchain, adding that the focus is on connectivity across networks, participants and markets — a hint that more chains could follow.

The announcement lands in a crowded Hong Kong stablecoin race. HSBC's Hong Kong-pegged Redcoin is already live, reaching retail through PayMe, the mobile payment app with 3.3 million users, with tokenized investments promised soon inside the HSBC HK app. Anchorpoint is now positioning Solana as its route into that same fight.