Finloop Finance Limited has joined the HKDAP Beta Access program as one of the first authorised distributors of HKDAP, a regulated Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial Limited. The arrangement gives Finloop distribution access and a role in supporting liquidity as HKDAP begins an institutional rollout.
Starting next week, Finloop said eligible institutions, corporate users and professional traders will be able to use its platform to subscribe for, redeem, exchange, trade and settle in HKDAP. The companies did not disclose transaction caps, pricing, eligibility thresholds or the number of participants entering the initial beta phase.
HKDAP is described by the companies as Hong Kong’s first regulated Hong Kong dollar stablecoin. Its launch through a restricted-access program places the token initially within professional financial markets rather than broad retail circulation, with the early phase designed to test how regulated tokenised money can operate across trading, settlement and corporate payment workflows.
Finloop gains distribution and liquidity role
Finloop’s role connects Anchorpoint’s issuance operation with users seeking access to HKDAP. Subscription and redemption are central functions for a fiat-backed stablecoin: users subscribe by converting Hong Kong dollars into tokens, while redemption allows token holders to exchange HKDAP back into the underlying fiat currency.
The addition of exchange, trading and settlement services suggests Finloop intends to position HKDAP as a working settlement asset rather than solely a token representing cash held in reserve. In practice, that could allow eligible users to move Hong Kong dollar value between approved counterparties and settle certain digital-asset or tokenised-asset transactions without relying on conventional payment rails for every transfer.
Finloop said it holds a Type 1 licence from Hong Kong’s Securities and Futures Commission and is therefore eligible to provide virtual-asset dealing services. Type 1 licensing covers dealing in securities under Hong Kong’s regulatory system, and the firm said its authorisation supports its virtual-asset activities.
The company also cited its work in real-world asset issuance and distribution, an area that involves creating blockchain-based representations of conventional financial or physical assets. That experience could be relevant if HKDAP is used to settle tokenised products, where a regulated digital Hong Kong dollar could reduce the operational gap between the tokenised asset and the cash leg of a transaction.
Anchorpoint issued licence under stablecoins ordinance
Anchorpoint Financial Limited said it received a stablecoin issuer licence under Hong Kong’s Stablecoins Ordinance in April 2026, carrying licence number FRS01. The issuer is a subsidiary of Standard Chartered Bank (Hong Kong) Limited and was established as a joint venture by SCBHK, HKT and Animoca Brands in February 2025.
The ownership structure brings together a bank, a telecommunications group and a digital-assets company, although the beta program remains directed at institutional and professional users. The rollout offers an early test of whether a bank-linked issuer and regulated distributor network can establish practical demand for a Hong Kong dollar stablecoin in business-facing markets.
Anchorpoint and Finloop said they are exploring cross-border payments, trade finance and real-world asset tokenisation during the Beta Access period. Each use case depends on a different feature of tokenised money.
Cross-border payments could use HKDAP to transfer Hong Kong dollar-denominated value between eligible parties on shared digital infrastructure. Trade-finance applications could connect payment with documentation and contractual milestones. Tokenisation transactions could use the stablecoin to settle purchases, redemptions or transfers of blockchain-based funds and other assets.
These are trials rather than confirmed commercial deployments. Their usefulness will depend on the number of regulated participants, the terms under which they can redeem HKDAP and whether counterparties can integrate the token into their existing treasury, compliance and payment systems.
A narrow launch leaves key market details open
The announcement did not state how much HKDAP has been issued, whether tokens will be available across public blockchains or private networks, or how Finloop will provide liquidity during the beta period. It also did not specify whether clients will face fees for subscriptions, redemptions, trading or settlement.
Those omissions matter for an early distribution program because stablecoin utility depends on more than issuance. Corporate users generally need predictable access to tokens, reliable redemption processes and sufficient liquidity to move between the stablecoin, bank deposits and other approved assets. A token can be fully backed yet remain difficult to use at scale if distribution is narrow or settlement partners are limited.
The companies also did not provide a timeline for expanding access beyond the eligible institutions, corporate users and professional traders included in the first phase. Any retail rollout would require separate details on product access, distribution channels and the applicable regulatory framework.
Beta tests focus on settlement mechanics
The institutional rollout gives Hong Kong’s stablecoin regime an operational case study in how regulated digital cash can be distributed beyond its issuer. Anchorpoint’s licence establishes the issuing side of the arrangement, while Finloop’s platform is intended to provide the route through which approved users can obtain and use HKDAP.
The immediate test will be whether the token can support real payment and settlement activity rather than simply circulate within a limited launch environment. Cross-border payment, trade-finance and tokenisation pilots will require participants to coordinate legal, operational and technical processes alongside the blockchain transfer itself.
For Finloop, the distributor designation places the firm in the part of the market where stablecoin adoption is likely to be decided: the connection between issuance, liquidity and day-to-day client use. The next phase will show whether eligible users treat HKDAP as a practical Hong Kong dollar settlement tool across those workflows.
Institutional traders exploring HKDAP and tokenised assets can deepen their strategy with Toobit Academy’s insights on tokenized RWAs today.
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