Standard Chartered-backed Anchorpoint nears HKDAP stablecoin launch

The rollout follows a successful Ethereum mainnet transfer test conducted in May, which involved OSL Group and PantherTrade. This trial confirmed that the token could be issued and settled on public blockchain infrastructure while adhering to the strict compliance requirements set by local authorities. By utilizing the Ethereum network, the developers aim to ensure interoperability with existing wallets and decentralized finance platforms.

Anchorpoint, a joint venture backed by Standard Chartered Bank (Hong Kong), HKT, and Animoca Brands, plans to issue the stablecoin with a one-to-one backing of Hong Kong dollar reserves held in segregated accounts. This structure aligns with the Stablecoins Ordinance designed to protect users through transparent disclosure and rigorous oversight. While the initial roadmap suggested a phased launch through 2026, the upcoming announcement signals an accelerated shift toward commercial availability using a business-to-business-to-consumer model.