Anchorpoint, a subsidiary of Standard Chartered, has formally launched the first phase of issuance for HKDAP, a Hong Kong dollar stablecoin, according to The Block. The initial rollout opens test access to institutional distributors and professional investors rather than the broader market. Anchorpoint was established as a joint venture involving Standard Chartered, HKT and Animoca Brands. In April this year, the company received a stablecoin issuer license from the Hong Kong Monetary Authority, making it one of the first licensed institutions in the city’s new regime. The phase-one launch marks the start of live testing under that framework, with participation currently limited to professional and institutional channels named in the report.
Anchorpoint, a subsidiary of Standard Chartered, formally launched the first phase of issuance for HKDAP, a Hong Kong dollar stablecoin, on Wednesday, according to The Block. Test access in this stage is open to institutional distributors and professional investors.
Anchorpoint was set up as a joint venture between Standard Chartered, HKT and Animoca Brands. In April this year, it received a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA), placing it among the first institutions to secure approval.
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