Anchorpoint (HKDAP)
Anchorpoint Financial issues HKDAP, a stablecoin pegged one to one with the Hong Kong dollar. The company is a joint venture between Standard Chartered, Animoca Brands and HKT. In August 2026 it received one of the first stablecoin issuer licences from the Hong Kong Monetary Authority, alongside HSBC. HKDAP started in an institutional phase with HashKey Exchange as an authorised distributor.
The first HKMA-licensed stablecoin issuer, a Standard Chartered, Animoca Brands and HKT joint venture issuing the HKD-pegged HKDAP, now in institutional beta via HashKey Exchange. A milestone for regulated Asian stablecoins, but fully fiat-anchored, custodial and pre-traction, which caps its M69 alignment.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x2.0
Centralised minting by a licensed corporate issuer against fiat reserves under the HKMA stablecoin ordinance. Reserve-backed and redeemable, but issuance is entirely bank-mediated.
Spending Power Stability2x3.0
1:1 HKD peg with regulated full reserves; the HKD itself is pegged to the US dollar, so holders carry US dollar inflation.
Fiat Independence & Interoperability2x1.0
Fully fiat-denominated and fiat-reserved, dependent on banking infrastructure end to end.
Traction2x1.0
Institutional beta only as of August 2026; no public circulation figures yet.
Sovereignty1.0
Custodial, licensed and freezable by design; the licensing regime requires issuer control over tokens.
Governance2.0
Corporate joint venture of three listed companies; regulatory transparency obligations, no user voice.
Resilience3.0
Backed by Standard Chartered, HKT and Animoca with regulated segregated reserves, but single-jurisdiction and licence-dependent.
Inclusivity2.0
Institutional participants only in the current phase; retail access planned under the HK regime.