Anchorpoint Financial plans to bring HKDAP, its Hong Kong dollar-backed stablecoin, to Solana through a collaboration with Solana Foundation.
The HKMA-licensed issuer aims to enable native minting and redemption with near-instant settlement, supporting retail payments, tokenised real-world asset (RWA) trading and other high-volume transactions.
RWAs represent traditional assets, including funds and bonds, as blockchain tokens.
Anchorpoint, a joint venture between Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, received its stablecoin issuer licence in April.
HKDAP is currently in beta access for institutional and professional users on Ethereum. Neither party announced a Solana launch date.
Plans for broader HKDAP access
Anchorpoint plans to distribute HKDAP and HKDAP-enabled tokenised products through corporate partners, consumer applications and Solana’s network of wallets and developers.
The companies said Solana supports approximately US$4.9 billion in tokenised RWAs and more than 835,000 RWA holders.
“Stablecoins play an important role in bringing digital assets into everyday financial activity,”
said Lu Yin, Head of APAC, Solana Foundation.
“With fast settlement and access to a global ecosystem of wallets and applications, HKDAP on Solana has the potential to make Hong Kong Dollar-denominated digital value more accessible and useful across a wider range of real-world use cases.”
Anchorpoint CEO and Co-Founder Dominic Maffei said:
“We are building towards an open network designed to connect ecosystems, not fragment them.”
He added:
“By building open infrastructure, we can create greater opportunities for our partners while supporting broader access to regulated Hong Kong dollar digital money.”
Solana joins adoption programme
Solana Foundation will join Anchorpoint’s Tokenised Money Adoption Programme (TAP), launched in September with PwC Hong Kong as its inaugural strategic partner.
The partnership follows Solana’s inclusion in Hong Kong’s OASES programme and plans to establish a local presence.
Featured image credit: Edited by Fintech News Hong Kong, based on image by vicnt via Magnific
