Standard Chartered Becomes First Bank Distributor Of Hkdap

Standard Chartered Bank (Hong Kong) Limited (“SCBHK”) has announced that it has become an authorised distributor of HKDAP (“HKD At Par”), the first regulated Hong Kong Dollar-backed stablecoin issued by Anchorpoint Financial Limited. Mary Huen, Chief Executive Officer, Hong Kong and Greater China & North Asia, Standard Chartered, said, “Standard Chartered is pleased to be the first bank distributor to provide eligible clients with secure access to the market-first Hong Kong dollar backed stablecoin. This milestone reflects our commitment to advancing innovation to shape the future of finance and our belief in the transformative potential of tokenised money to support the real-world economy. Since Anchorpoint received its stablecoin issuer licence, we have seen strong interest from clients exploring how HKDAP can support their business needs. We look forward to enabling new opportunities across payments, settlement, treasury management and other commercial applications, helping clients realise greater efficiency and value from tokenised money while contributing to the growth of Hong Kong as a global digital assets hub.”