Anchorpoint and Solana Sign Agreement to Launch HKDAP Stablecoin

Anchorpoint Financial, supported by Standard Chartered, announced a partnership with the Solana Foundation to integrate its regulated stablecoin HKDAP, pegged to the Hong Kong dollar, onto the Solana platform. The announcement was made on October 30. The collaboration aims to implement direct issuance and redemption of HKDAP on Solana, enabling the stablecoin to be used for everyday payments, trading tokenized assets, and other operations requiring fast settlements.

Plans for Solana

Anchorpoint intends to leverage Solana's network capabilities to support a rapid settlement process and develop new solutions for accessing HKDAP. According to the information, there are already about $4.9 billion in tokenized assets and over 835,000 token holders on the Solana platform, highlighting the network's activity in tokenized finance. Anchorpoint and the Solana Foundation plan to work with corporate partners and consumer-facing applications to provide access to HKDAP and related tokenized products. The launch date for retail clients is not yet known.

Participation in the Program and License

In addition to the integration, the Solana Foundation will join Anchorpoint's Tokenised Money Adoption Programme as a strategic partner following PwC. The program brings together financial institutions and technology companies to research and develop regulated stablecoin-based applications in Hong Kong. Anchorpoint received a stablecoin issuer license from the Hong Kong Monetary Authority in April 2026, and since August 2026, it has been managing HKDAP under an institutional beta program: access is provided through authorized distributors and verified wallets.

Hong Kong Market

On October 23, HSBC began deploying its stablecoin RedCoin, pegged to the Hong Kong dollar, through the PayMe app, which is used by over 3.3 million people. The launch is focused on peer-to-peer transfers and payments to participating merchants, while Anchorpoint continues to develop the distribution scheme for HKDAP. This indicates the movement of Hong Kong's regulated market towards broader access to stablecoins.