Standard Chartered Hong Kong to Distribute HKDAP Stablecoin
SingTao · 2 SOURCESabout 1 hour ago2 MIN
Summary
Standard Chartered Hong Kong said it has formally become the authorised distributor of HKDAP, the first regulated Hong Kong dollar stablecoin issued by Anchorpoint Financial . The bank said it is ready to support real-world use cases across different scenarios and is working with eligible institutional clients and partners to integrate HKDAP into daily operations .
Key Points
- As the first banking institution to distribute HKDAP, Standard Chartered Hong Kong expects to roll out several new commercial use cases over the coming months .
- Initial applications under study include subscriptions and settlement for tokenised money market funds, intra-group settlement activities, and cross-border payments .
- The bank said tokenised money could reduce operational friction while improving capital liquidity and the predictability of transactions .
- In the fourth quarter, Standard Chartered Hong Kong plans to launch subscription and settlement services for tokenised money market funds with asset managers .
- The bank also aims in the near term to implement an internal settlement use case using HKDAP within its group network .
Why It Matters
The planned pilots could provide a template for institutional clients, especially multinational companies seeking more efficient cross-border operations through on-chain stablecoins . Standard Chartered Hong Kong said the initiative could also help advance Hong Kong's digital asset ecosystem and reinforce its role as an international financial centre and corporate treasury hub .