Standard Chartered's Anchorpoint officially launches the first phase of the Hong Kong dollar stablecoin HKDAP

According to The Block, Standard Chartered Bank's subsidiary Anchorpoint officially launched the first phase of the Hong Kong dollar stablecoin HKDAP on Wednesday, opening test access to institutional distributors and professional investors.

Anchorpoint was jointly established by Standard Chartered Bank, HKT, and Animoca Brands, and received a stablecoin issuance license from the Hong Kong Monetary Authority (HKMA) in April this year, making it one of the first licensed institutions.