The Hong Kong Dollar stablecoin HKDAP will be launched on Solana, supporting native minting and redemption

Solana posted on platform X that Anchorpoint, a licensed stablecoin issuer in Hong Kong established by Standard Chartered Bank, Hong Kong Telecommunications, and Animoca Brands, will introduce the Hong Kong dollar stablecoin HKDAP to Solana. Solana stated that this is the first collaboration of HKDAP with a public blockchain.

HKDAP will be natively minted and redeemed on Solana, with application scenarios covering retail payments to tokenized assets. The memorandum of understanding (MOU) signed by both parties will also provide a regulated channel for global capital to enter Hong Kong dollar payments, products, and tokenized assets. The Solana Foundation, as a strategic partner, will join Anchorpoint's Tokenised Money Adoption Programme together with PwC.