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Standard Chartered becomes first authorized distributor of HKD stablecoin

Standard Chartered logoStandard Chartered
Sig4.55Sen+4.60Env0.00Soc+0.85Gov+2.75

Standard Chartered Bank (Hong Kong) became the first authorized bank to distribute HKDAP, a regulated Hong Kong dollar-backed stablecoin from Anchorpoint Financial. The bank will roll it out to eligible institutional clients and partners for uses such as tokenized fund settlements, treasury operations and cross-border payments, with HKDAP-based money market fund subscriptions and settlements planned for the fourth quarter.

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