HashKey Exchange has started distributing Anchorpoint Financial’s HKDAP stablecoin to eligible institutions and professional investors. This beta rollout marks the first time the exchange has handled minting and redemption for this asset, including fiat on- and off-ramping services.
The move expands access to a regulated digital currency backed by the Hong Kong dollar. It highlights growing infrastructure support for licensed stablecoins in Hong Kong’s financial sector, connecting traditional banking partners with crypto trading platforms.
Key facts
- HashKey Exchange completed its first HKDAP minting and redemption transaction as part of the new distribution agreement.
- The beta program is currently restricted to eligible institutions and professional investors rather than retail users.
- Anchorpoint Financial holds a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA).
- Anchorpoint is a joint venture between Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands.
- HKDAP stands for “HKD At Par” and is designed for payments, settlement, and tokenized finance applications.
Why it matters
This development provides a regulated pathway for institutional investors to access Hong Kong dollar-backed digital assets. By integrating fiat ramps with a licensed stablecoin, HashKey and Anchorpoint are testing infrastructure that could support broader adoption of tokenized finance and efficient cross-border settlements within the region’s regulatory framework.