The Anchorpoint Financial supported by Standard Chartered has collaborated with Solana Foundation to plan to introduce their regulated Hong Kong dollar stablecoin, HKDAP, onto the Solana blockchain. They are also advancing the expansion of this token as they prepare to make it available to retail users.

According to the announcement on October 30th, this collaboration will focus on supporting the native issuance and redemption of HKDAP on Solana, enabling this stablecoin to be used for daily payments, tokenized asset transactions, and other transactions that require quick settlement.

Anchorpoint indicates that the company plans to collaborate with the wallet, applications, and enterprise partner network of Solana to enable more users to access HKDAP, although the launch date has not yet been announced.

Solana Foundation will join as a strategic partner in Anchorpoint's Tokenised Money Adoption Programme, with PwC having previously participated in this initiative.

Anchorpoint obtained a stablecoin issuer license from the Hong Kong Monetary Authority in April 2026 and has been developing HKDAP for institutional payment and tokenized financial services.

This collaboration is the first time that Anchorpoint has partnered with a public blockchain foundation, and it has been reached at a time when the company is preparing to expand HKDAP beyond its existing institutional distribution network.

Under this arrangement, Anchorpoint intends to introduce the native minting and redemption mechanism of HKDAP on Solana, allowing qualified participants to issue and redeem this Hong Kong dollar-backed token through that network.

The company expects that the transaction processing capability of Solana will help support payments and other high-frequency transfer activities, and its existing wallet, applications, and developer network may also provide customers with new ways to access stablecoins.

Retail payment is one of the key areas of exploration, in addition to which there is also the settlement of tokenized real-world assets and financial products denominated in Hong Kong dollars.

Anchorpoint and Solana Foundation plan to collaborate with corporate partners and consumer-oriented applications, enabling HKDAP and related tokenized products to be made available to users through blockchain.

The announcement mentioned that there are approximately $4.9 billion in tokenized real-world assets on Solana, as well as over 835,000 holders of RWA, which serves as evidence of the network's activity in the field of tokenized finance.

Solana has been advancing its consumer-oriented payment infrastructure through partnerships with mature technology companies.

Earlier this month, Samsung Wallet announced plans to launch a USDC transfer service for eligible users on 82 million Galaxy devices in the United States, with blockchain infrastructure support provided by Solana and Sui.

This proposed service will allow users to send USDC to compatible cryptocurrency wallets as well as eligible bank accounts overseas.

Solana Foundation The head of the Asia-Pacific region, Lu Yin, stated that this collaboration may make digital currencies denominated in Hong Kong dollars more accessible through applications that already serve consumers.

He pointed out that the settlement capabilities of Solana, as well as its network of international developers and wallet providers, could help to support daily financial transactions.

This collaboration also continues Anchorpoint's previous retail expansion plan. The company previously stated that it planned to bring HKDAP to retail customers through public blockchain infrastructure, but the launch date has not yet been confirmed.

According to previous reports by crypto.news, Anchorpoint CEO Dominic Maffei stated on October 26th that the company is working on advancing its distribution infrastructure and customer education efforts before making the stablecoin available to individual users.

Currently, HKDAP is still in the controlled pilot phase for institutions, and access is only provided through authorized distributors and verified wallets.

The company adopts the B2B2C distribution model, with approved partners responsible for customer onboarding, hosting, and exchange services.

The current arrangement requires users to complete a verification process; transfers to unverified addresses will be restricted.

Anchorpoint has been working on these arrangements since August, when the company began distributing HKDAP to eligible institutions and professional investors.

HashKey Exchange joined as an authorized distributor during the initial pilot phase and completed a HKDAP minting and redemption transaction.

This stablecoin was initially used for payments, exchanges between fiat currency and digital tokens, as well as for settlements involving tokenized financial assets.

Subsequently, Standard Chartered became its first banking distributor and plans to support subscription and settlement services for tokenized money market funds.

In addition to blockchain integration, Solana Foundation will also join as a strategic partner in Tokenised Money Adoption Programme of Anchorpoint. Previously, the professional services company PwC had already participated in this initiative.

The initiative brings together financial institutions and technology companies to support research, industry collaboration, and the development of regulated stablecoins in Hong Kong.

With the participation of Solana, this comes shortly after its inclusion in Hong Kong's OASES program and its plans to establish a local business in Hong Kong.

Maffei describes this collaboration as part of Anchorpoint's efforts to connect different blockchain networks and financial market participants through a common infrastructure.

He said that the company is moving towards "an open network aimed at connecting ecosystems rather than dividing them."

Anchorpoint is a joint venture established by Standard Chartered Bank (Hong Kong), telecommunications company HKT, and Animoca Brands.

In April 2026, the company, together with HSBC, obtained a stablecoin issuer license issued by the Hong Kong Monetary Authority in accordance with the Hong Kong Stablecoin Regulations.

The framework requires licensed issuers to meet requirements for reserve support, redemption, governance, and prevention of financial crimes.

Thereafter, the regulated stablecoin market in Hong Kong began to move from institutional applications to a wider range of scenarios.

On October 23, HSBC began to launch a Hong Kong dollar-backed RedCoin stablecoin through its consumer-oriented payment app PayMe, which serves over 3.3 million users.

In the initial stage of this promotion, it focused on transfers between individuals and payments to participating merchants, while Anchorpoint continued to advance the distribution arrangements of HKDAP.

Anchorpoint holds a license as a stablecoin issuer FRS01, and has been operating HKDAP through the institutional trial version project since August 2026.