Standard Chartered becomes first authorized distributor of HKD stablecoin
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.