Standard Chartered Leads HKD Stablecoin Distribution

Standard Chartered Bank (SCBHK) Hong Kong has become the first bank authorized to distribute Anchorpoint Financial’s regulated Hong Kong dollar-backed stablecoin, HKDAP.

Innovative Distribution Ecosystem

SCBHK plans to utilize HKDAP for tokenized money market funds, treasury operations, and cross‑border payments, offering customers transparency and speed.

■Q4 launch of HKDAP‑based subscriptions and settlements for tokenized money market funds.

■Custom treasury management solutions for institutional clients.

■Potential 30% reduction in cross‑border payment costs.

Profitable Business Models

SCBHK’s new revenue streams will emerge from stablecoin‑based transactions and intragroup settlements, enhancing the bank’s competitive edge in the digital finance ecosystem.

■Focus on USD and HKD dual‑currency partnerships.

■Low‑fee settlement services for corporate customers.

■New collaborations with the private and public sectors.

Regulation and Security

Under HKMA’s Stablecoins Ordinance, Anchorpoint Financial and HSBC received licenses on 1 August 2025. This includes standards for reserve backing, redemption, and AML controls.

■HKMA’s supervisory guidelines effective 1 August 2025.

■1:1 reserve backing of HKDAP in Hong Kong dollars.

■Rigorous AML and KYC oversight.

Future Outlook

SCBHK will integrate HKDAP into the traditional banking network, launching new commercial applications. The bank intends to collaborate with local and international asset managers.

■Tokenized fund settlements with local and international asset managers.

■Intragroup settlements across the banking network using HKDAP.

■Broad adoption of new commercial applications by 2026.

Standard Chartered’s move underscores the evolving role of banks in the digital asset ecosystem. The integration of HKDAP into banking operations reduces transaction costs while strengthening regulatory compliance, creating a new competitive dynamic in the sector.