Standard Chartered to Distribute Hong Kong Stablecoin | Crypto Regulation News
Crypto regulation news: Standard Chartered to Distribute Hong Kong Stablecoin. This update explains what changed, why it matters for the crypto market, and what investors, exchanges, and blockchain companies should watch next.
Crypto Regulation Update
Standard Chartered Bank (Hong Kong), or SCBHK, has become the first bank authorized to distribute HKDAP, a regulated Hong Kong dollar-backed stablecoin issued by Anchorpoint Financial. On Monday, the bank said it is engaging eligible institutional clients and partners on uses including tokenized fund settlements, treasury operations and cross-border payments during a phased rollout.Standard Chartered’s addition expands HKDAP distribution into conventional banking nearly two weeks after Anchorpoint began beta access through HashKey Group and OSL. SCBHK said it expects to introduce new commercial applications over the coming months.The bank plans to introduce HKDAP-based subscriptions and settlements for tokenized money market funds with international and local asset managers in the fourth quarter. It also intends to use the stablecoin in intragroup settlements across its banking network in the near term.“Since Anchorpoint received its stablecoin issuer licence, we have seen strong interest from clients exploring how HKDAP can support their business needs,” SCBHK CEO Mary Huen said in the announcement.She added that SCBHK’s distribution could support payments, settlement and treasury management while providing eligible clients with access through a regulated banking channel.Related: Hong Kong warns of fake stablecoins impersonating HSBC and AnchorpointHKDAP expands distributionAnchorpoint is a joint venture established by Standard Chartered’s Hong Kong arm, telecommunications company HKT and Web3 investment company Animoca Brands. Standard Chartered is Anchorpoint’s largest shareholder, and the licensed issuer operates as a subsidiary of the bank. In February 2025, the partners announced plans for an HKD-backed stablecoin, after participating in the Hong Kong Monetary Authority’s (HKMA) stablecoin issuer sandbox since July 2024. In August 2025, they formally established Anchorpoint Financial and began pursuing an issuer license. Hong Kong’s Stablecoins Ordinance took effect on Aug. 1, 2025. Ahead of its implementation, the HKMA issued supervisory guidelines and opened a public register of licensed issuers. On April 10, the HKMA granted its first stablecoin issuer licenses to Anchorpoint and HSBC’s Hong Kong banking arm. The approvals came under rules requiring licensed issuers to meet standards covering reserve backing, redemption, governance and Anti-Money Laundering (AML) controls. Magazine: MiCA cracks down on USDT in Europe… but no one else cares
Why This Crypto Regulation News Matters
First, this development may affect exchanges, token listings, stablecoins, compliance rules, and market sentiment. In addition, it may influence licensing, reporting requirements, and future enforcement actions. As a result, traders and investors should watch the next legal and policy steps closely.
What to Watch Next
Watch for follow-up statements from regulators, court filings, exchange responses, and policy updates. In particular, any new guidance on licensing, enforcement, or stablecoin rules could have a direct impact on the broader crypto market.
