Solana Foundation signs a strategic deal with Anchorpoint Financial to issue the HKDAP stablecoin, bringing dollar-pegged digital assets to the Hong Kong banking sector.
The Solana Foundation has entered into a strategic agreement with Anchorpoint Financial Limited, a licensed issuer in Hong Kong, to facilitate the launch of a new stablecoin called HKDAP. According to U.Today, this collaboration marks the first direct partnership between the public blockchain foundation and a local financial entity in the region. The initiative aims to integrate the Hong Kong dollar into the Solana network, providing a legal framework for retail payments and the trading of tokenized real-world assets. This development occurs against a backdrop where mainland China maintains strict prohibitions on cryptocurrency transactions, while Hong Kong offers a regulated environment for private sector innovation.
Anchorpoint Financial is not a standalone entity but a consortium comprising Standard Chartered Bank (Hong Kong), telecom operator HKT, and Animoca Brands. The group secured the FRS01 license from the Hong Kong Monetary Authority (HKMA), which is mandatory for issuing fiat-referenced stablecoins under local law. By leveraging Solana's infrastructure, the partners can achieve instant issuance and redemption of the HKDAP token. This setup creates a direct banking gateway for retail users and institutions looking to engage with digital assets within a compliant jurisdiction. The integration allows for the settlement of transactions in a currency that is pegged to the US dollar, effectively creating a dollar-linked instrument issued outside of direct US regulatory oversight.
The partnership is grounded in Hong Kong’s Stablecoins Ordinance, which came into effect on August 1, 2025. Under this legislation, any issuer of a fiat-referenced stablecoin must hold an HKMA license, maintain high-quality liquid reserves to fully back the token, and guarantee redemption at par. The Hong Kong dollar itself is pegged to the US dollar within a narrow band of 7.75 to 7.85, which reinforces the stability of the HKDAP asset. U.Today notes that this regulatory clarity distinguishes Hong Kong from mainland China, where the digital yuan is tested exclusively within state-controlled pilot zones. For international markets, this arrangement provides direct access to Hong Kong dollar liquidity via the Solana blockchain, offering a legitimate settlement instrument for global participants.
Solana's existing infrastructure is well-positioned to support this growth. Data from rwa.xyz, cited by U.Today as of October 30, 2026, indicates that the total real-world asset volume on the platform stands at $18.89 billion. Of this amount, approximately $14.13 billion, or 75%, consists of stablecoins, which facilitate a monthly transfer volume of $370.94 billion across 13.56 million addresses. To further consolidate its presence, the Solana Foundation is joining the Hong Kong government's OASES program. The foundation is also opening a local office and rolling out the TAP tokenization program in collaboration with PwC. These steps are designed to create a robust legal track for large-scale capital, allowing Standard Chartered and its partners to operate within a fully legitimate settlement framework while expanding the utility of the Solana network in Asia.
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