Frequently asked questions

A stablecoin is a type of digital asset that is designed to maintain a stable value, usually on a one-for-one basis relative to the price of certain assets (typically fiat currencies such as USD, HKD, etc), backed by a basket of financial assets or instruments. Currently, there are a wide variety of stablecoins existing globally, which may or may not be regulated and have varying levels of transparency and risk management standards.

Anchorpoint Financial Limited (“Anchorpoint”) is one of the first entities being granted a stablecoin issuer licence (licence number FRS01) by the Hong Kong Monetary Authority, under the Stablecoins Ordinance (Cap. 656), allowing Anchorpoint to issue regulated, fiat-referenced stablecoins for public use.

Anchorpoint is a Hong Kong-incorporated company and a subsidiary of Standard Chartered Bank (Hong Kong) Limited (“SCBHK”). It was established as a joint venture between SCBHK, HKT and Animoca Brands, which also jointly participated in the Hong Kong Monetary Authority’s Stablecoin Issuer Sandbox in 2024.

HKDAP (“HKD At Par”) is the HKD-referenced stablecoin issued by Anchorpoint with a par value of HK$1.00 each that operates on supported public blockchain networks. Issued under Hong Kong Monetary Authority’s oversight, HKDAP is backed by a pool of high-quality, highly liquid reserves, as stipulated by the Stablecoins Ordinance and could encompass one or more of the asset types permissible under HKMA’s guideline, the value of which is required to be at least 100% of the par value of all HKDAP in circulation.

HKDAP is designed as an open, general-purpose settlement and payment instrument natively compatible with tokenized infrastructure, with the comfort that it’s redeemable 1:1 for HKD while offering users the benefits of enhanced efficiency, programmability and traceability compared to existing financial rails.

Generally, HKDAP can be obtained, held, and used by all types of stakeholders – ranging from financial institutions, corporates, small-medium enterprises, merchants, and individuals – provided that they do not violate any of the customary requirements in the Terms:
• For example, certain jurisdictions prohibit the use of cryptocurrencies, digital assets, or stablecoins by its citizens or residents – in which case HKDAP’s Authorised Distributors will not permit access to HKDAP for users from these jurisdictions.

We will open up eligibility and access to HKDAP along with our launch phases:
• Beta access (upcoming): corporates and Professional Investors (PIs) only
• Full launch (post-Beta): expand to cover retail individuals

No, HKDAP is NOT securities or speculative investment tool – it is not a yield-bearing product, and it does not provide any capital gains for its holders.

HKDAP is akin to ‘digital cash’ as a bearer instrument, and its value is strictly pegged to fiat HKD currency on a 1:1 basis for stability when used as the settlement unit across tokenized and traditional finance.

Since being granted a stablecoin issuer licence in April 2026, Anchorpoint has been working closely with regulators and partners to prepare for HKDAP’s phased launch, which will begin with the upcoming Beta Access, followed by Full Launch tentatively planned for beginning of Q4 (subject to the collective readiness to support seamless and reliable mass adoption of stablecoins – across issuance, distribution and other infrastructure such as custody).

During Beta Access stage, select Authorised Distributors will enable its non-retail users to access and convert HKDAP. This allows distributors and adoption partners to ensure their system, operational and product readiness.

After Full Launch, all user types including retail can access, hold and use HKDAP and HKDAP-enabled products or services through our Authorised Distributors and ecosystem partners.

During Beta Access phase, HKDAP is only available on Ethereum mainnet: 0x87622385F960fcCB3121d6D0A9513bd1D9Bed6cA

For end-users (i.e. individuals, corporates and most institutions) – you can safely access HKDAP and convert between fiat currency via any of our Authorised Distributors (the full list of Authorised Distributors will be announced at full launch). Each Authorised Distributor will enable access via their own platform/customer interface.

For certain regulated financial institutions or licensed businesses with large transaction volumes or settlement needs – you may consider becoming an Authorised Distributor with direct HKDAP clearing access with Anchorpoint. Please refer to the section below for more information about Authorised Distributors.

Only Authorised Distributors have direct access and account relationship with Anchorpoint. For all other user types including individuals, corporates and most institutions – You can access HKDAP via an active account with any one of the Authorised Distributors (with a duly completed account opening process as required by your service provider).

As a minimum requirement to potentially be an Authorised Distributor – you must be an institution with the requisite regulatory licenses (requirements vary subject to your entity’s registered jurisdiction) and able to fully complete the due diligence and onboarding process as required by Anchorpoint.

It is possible to hold HKDAP in your own digital asset or token wallets, depending on whether your choice of service providers allow withdrawal of coins from their platform (i.e. so called “coin-out”) – the availability of and the required procedures for “coin-out” request could vary, users should contact their service providers for relevant details.

Typically, to enable withdrawal to (or depositing from) your own wallet for any type of digital assets, you will be required by your service providers to complete wallet ownership verification and whitelisting procedures. You will be required by the Authorised Distributors to do the same (if they permit any “coin-out” feature), in order to verify your wallet address to use HKDAP directly.

Yes, it is possible to transfer HKDAP between your wallets, provided that these wallet addresses have completed verification process for HKDAP with at least one of our Authorised Distributor (doesn’t need to be the same one), for example:

Your Wallet 1 (verified by Distributor A) and Wallet 2 (verified by Distributor B) can transfer HKDAP between them.

The transfer would be rejected by the blockchain protocol automatically due to the user protection and compliance controls embedded in HKDAP’s smart contracts.

As of now, there is no unified “equivalence mechanism” globally regarding how each jurisdiction might treat or recognize stablecoins (or digital assets) regulated by other jurisdictions. This varies by geography, and foreign users should seek professional legal opinion for their own jurisdiction.

Anchorpoint will continue to assess and potentially engage licensed, regulated overseas Authorised Distributors (in compliance with any applicable domestic laws and regulations). We also engage in dialogue with overseas regulators from time to time in an effort to improve international awareness (and recognition) of Hong Kong’s regulated stablecoins and its robust regulatory framework.