HashKey begins beta distribution of Hong Kong-regulated HKDAP stablecoin
HashKey has become an authorized distributor for Anchorpoint’s HKDAP, expanding institutional access as Hong Kong’s regulated stablecoin market takes shape.
HashKey Exchange has commenced a beta distribution of Anchorpoint Financial's HKDAP stablecoin, a Hong Kong dollar-backed asset. Anchorpoint, a joint venture of Standard Chartered Bank, HKT, and Animoca Brands, obtained a stablecoin issuer license from the Hong Kong Monetary Authority in April 2025. The HKDAP, or "HKD At Par," is a regulated stablecoin intended for payments and other financial transactions.
HashKey has already finalized its first HKDAP minting and redemption with eligible clients, including fiat on- and off-ramping. The distribution of HKDAP via HashKey and other channels is part of a beta rollout, with plans to expand services over time to include cross-border payments, settlement, and tokenized finance. Despite the potential for Hong Kong dollar-backed stablecoins to evolve into a large market, reliable data on their circulation and adoption remains scarce.
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