Hong Kong’s monetary regulator has granted Anchorpoint Financial Limited a license to issue a Hong Kong dollar-backed stablecoin, in one of only two approvals from 36 applicants under the city’s new Stablecoins Ordinance.
The Hong Kong Monetary Authority (HKMA) decision positions Anchorpoint’s HKDAP token as one of the first fully regulated Hong Kong dollar stablecoins, marking a key policy step in the city’s attempt to become a tightly controlled hub for tokenized payment instruments and digital asset infrastructure.
Anchorpoint’s stablecoin and business model
Anchorpoint is a joint venture between Standard Chartered Bank (Hong Kong) Limited, Hong Kong Telecom and Animoca Brands. Under the new license, it will issue HKDAP, a stablecoin backed by the Hong Kong dollar and focused on a business-to-business-to-consumer (B2B2C) model.
The firm says HKDAP is designed as a programmable, secure medium of exchange to support both enterprise and consumer use cases. It is intended to serve as a transactional backbone for digital environments that require instant clearing, such as decentralized platforms, automated systems and other on-chain services.
By combining banking-grade compliance, telecom-scale distribution and blockchain asset management, Anchorpoint aims to connect traditional financial rails with blockchain infrastructure, enabling regulated cross-border payments and new digital economic models.
Tight regulatory filter and market implications
The HKMA’s approval of only two licenses out of 36 applications signals a highly selective vetting process and sets a high barrier to entry for future stablecoin issuers. This effectively creates a small, tightly supervised group of operators within Hong Kong’s new regulatory perimeter for tokenized cash equivalents.
The introduction of a regulated, Hong Kong dollar-pegged stablecoin is expected to lift confidence in local digital asset markets. Market observers anticipate that this could unlock capital from institutions and family offices that have stayed cautious due to counterparty risks attached to offshore stablecoins.
Globally, stablecoins have a combined market capitalization of around $182 billion, with the majority denominated in U.S. dollars. HKDAP’s launch offers a domestically regulated alternative tied to the local currency.
What traders will watch next
Traders and market operators are expected to focus on which digital assets are paired with HKDAP on licensed exchanges. These pairings will likely signal which projects have cleared the due diligence and compliance thresholds of both institutional partners and regulators.
Liquidity flows into HKDAP-based trading pairs could provide an early indicator of market direction over the coming quarter. Attention is likely to move away from broad speculative trading and towards tokens with clear utility within the new payment and settlement framework.
Under this setup, the main risk for market participants shifts from concerns over the technical soundness of the stablecoin to questions about how quickly it is adopted and how strong a network effect it can build in its first months of operation.
AI, automation and regulated stablecoins
True Global Ventures (TGV), an early-stage venture capital firm focused on AI-led and Web3 businesses, holds equity in Animoca Brands, one of Anchorpoint’s joint venture partners.
TGV founding partner Stojanović has described regulated stablecoins as core infrastructure for a future in which AI agents autonomously execute transactions across networks. In that scenario, compliant, programmable digital cash becomes a critical building block for automated economic activity.
TGV, headquartered across eight major cities including San Francisco, New York, London and Hong Kong, reports that its 2021 early-stage fund ranks in the top 1% globally based on third-party venture performance benchmarks. Its portfolio includes firms such as Prezent, COVU, Jus Mundi, Coding Giants, Obligo and Ledger, with many operating in or expanding into California.
Regional growth in tokenized assets
The license for Anchorpoint comes as tokenization activity in Asia-Pacific accelerates. The total value of tokenized real-world assets in the region has grown an estimated 45% over the past 12 months to above $25 billion, indicating strong demand for on-chain financial instruments.
Within this context, HKDAP’s rollout will test how far a tightly regulated, Hong Kong dollar stablecoin can penetrate both institutional and retail-facing transaction flows, and whether it can capture a meaningful share of the fast-growing tokenized asset and payments market in the region.
To see how regulated digital assets are reshaping finance, explore our overview of stablecoins and how they work.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
