Standard Chartered-backed Anchorpoint plans native minting and redemption of its licensed Hong Kong dollar stablecoin HKDAP on @solana ($SOL), under a memorandum of understanding with the Solana Foundation (@SolanaFndn). Story:

🤝 HashKey Exchange and Anchorpoint Partner on HKDAP Beta Access. HashKey Exchange joins as a key authorised distributor to support the ecosystem development and wider adoption of HKDAP, the first regulated Hong Kong dollar stablecoin. Eligible institutions and professional investors can now access HKDAP through our app. Together with Anchorpoint, we look forward to exploring new applications for regulated digital money. Read more

OSL Group and Anchorpoint completed HKDAP test transfers on Ethereum Mainnet, marking a key step toward secure fiat-to-digital gateways and real-world regulated stablecoin use cases in Hong Kong. As Kevin Cui, Executive Director and CEO of OSL Group, highlighted, this aligns with OSL’s mission to make money move as freely as information. With OSL StableHub, OSL BizPay, and @BanxaOfficial , OSL is building integrated stablecoin infrastructure for liquidity, distribution, and real-world adoption.

OSL Group and Anchorpoint have completed test transfers of HKDAP, the first regulated Hong Kong Dollar-backed stablecoin, on Ethereum Mainnet. The test covered HKD fiat funding, reserve backing, minting, transfer, and full redemption, supported by @StanChart’s banking infrastructure and institutional trust services. This marks a key step toward secure fiat-to-digital gateways, cross-border payments, and tokenised financial use cases in Hong Kong.

🚨 LATEST: Standard Chartered-led Anchorpoint says it’s planning a retail stablecoin on a public blockchain but won’t rush a launch, eyeing cross-border payments as a key use case.

Regulated stablecoins are becoming national financial rails. @StanChart -backed Anchorpoint has begun the institutional rollout of $HKDAP, a regulated Hong Kong dollar stablecoin operating on public blockchain infrastructure. The first phase is focused on professional investors and institutional distributors, with cross-border payments and settlement of tokenized real-world assets among its initial use cases. The onchain economy will not be built around one stablecoin or one currency. It will need always-on markets connecting dollars, local currencies, tokenized assets, and global liquidity. That is the kind of market infrastructure Injective was designed to support.