Animoca Brands launches HKDAP, Hong Kong’s first regulated HKD stablecoin.

In Brief:

• Launch of HKDAP: Anchorpoint Financial Limited has launched HKDAP, the first regulated Hong Kong dollar-backed stablecoin, available for institutional users since August 12, 2026.
• Joint venture collaboration: Standard Chartered Bank, telecom operator HKT, and Animoca Brands collaborate in this venture, focusing initial use on payments and settlements.
• Future retail access: HKDAP aims for retail access by the fourth quarter of 2026, expanding usability beyond institutional participants.

HKDAP launches for institutional users

Anchorpoint Financial Limited has rolled out HKDAP, the inaugural regulated stablecoin pegged to the Hong Kong dollar, designed initially for institutional users. The token becomes operational at a time when the stablecoin market is estimated at approximately $287 billion.

Access to HKDAP is restricted to institutional partners like HashKey Exchange and OSL Group. The focus will be on payment and settlement use cases initially, with a broader retail rollout anticipated for late 2026.

Details of the launch

HKDAP, which stands for Hong Kong dollar at par, is supported one-to-one by high-quality, liquid Hong Kong dollar reserves held in segregated assets, as mandated by the Stablecoins Ordinance. This regulatory framework is crucial for its credibility and functionality.

Anchorpoint secured its Stablecoin Issuer Licence from the Hong Kong Monetary Authority on April 10, 2026, making it one of the first two entities to receive such a license under the newly established rules, effective August 1, 2025.

Operational framework and objectives

The joint venture was established in February 2025, enabling partners to create an operation that aligns with the pending regulatory guidelines. Bill Winters, Group Chief Executive at Standard Chartered, emphasized the bank’s commitment to innovation, calling it a vital link between clients and financial markets. Mary Huen, CEO for Hong Kong and Greater China and North Asia at Standard Chartered, described the licence as vital for advancing Hong Kong’s digital assets ecosystem.

HKDAP intends to support various applications, from tokenized asset settlements to international payments. Its distribution model requires authorized partners to manage the final leg to end users, rather than Anchorpoint interfacing directly.

The connection to gaming

Animoca Brands, a significant player in web3 gaming, partners with financial and telecom giants to address the need for stability in gaming economies. Evan Auyang, Group President at Animoca, stated that stablecoins are essential for a solid financial infrastructure, particularly in the context of gaming ecosystems.

On-chain games often struggle with pricing volatility in economies tied to their own tokens. A regulated HKD stablecoin offers stability that can streamline transactions, such as prize distributions and marketplace settlements, making it easier for developers to operate within regulatory frameworks.

As HKDAP expands to retail use later in 2026, the focus will shift from institutional testing to wider consumer adoption. Until then, gaming studios will navigate through authorized partners for access, limiting direct integration options with the issuer.