The Solana Foundation has partnered with Anchorpoint Financial, a consortium led by Standard Chartered and including HKT and Animoca Brands, to bring the HKDAP Hong Kong dollar-backed stablecoin to the Solana blockchain. The collaboration supports native issuance and redemption, with the aim of enabling retail payments, institutional settlement and real-world asset (RWA) trading through regulated banking infrastructure.
Key Takeaways
- Solana and Anchorpoint are collaborating to support native HKDAP issuance and redemption on Solana.
- Anchorpoint holds an HKMA license to issue Hong Kong dollar-backed stablecoins.
- The integration aims to support payments, institutional settlement and tokenized assets.
- Solana is expanding its Hong Kong presence through OASES and a tokenization initiative with PwC.
Solana Adds Regulated HKD Stablecoin
The Solana Foundation has entered a strategic collaboration with Anchorpoint Financial to expand access to HKDAP, a Hong Kong dollar-pegged stablecoin, on the Solana blockchain.
Anchorpoint is a consortium comprising Standard Chartered Bank (Hong Kong), telecommunications provider HKT and Animoca Brands. The consortium has been granted the FRS01 license by the Hong Kong Monetary Authority (HKMA) to issue Hong Kong dollar-backed stablecoins.
The partnership supports the native minting and redemption of HKDAP on Solana, with near-instant settlement. It is intended to broaden the stablecoin’s international reach and enable retail and institutional use cases, including payments and real-world asset trading.
According to Anchorpoint, the collaboration could strengthen the Hong Kong dollar’s appeal in international markets and support Hong Kong’s position as a treasury and capital markets hub. The partners also intend to explore HKDAP-enabled tokenized products using Solana as a platform.
Hong Kong’s Stablecoin Rules Provide a Regulatory Framework
The partnership operates under Hong Kong’s Stablecoins Ordinance, which came into effect on August 1, 2025. Under the framework, fiat-backed stablecoin issuers must hold an HKMA license, maintain fully backed reserves of high-quality liquid assets and redeem tokens at par value.
The Hong Kong dollar’s linked exchange rate system maintains a range of 7.75 to 7.85 HK per US dollar. This means HKDAP is pegged to the Hong Kong dollar, whose value is linked to the US dollar, while being issued under Hong Kong’s regulatory jurisdiction.
The integration provides a regulated banking channel for digital payments and tokenized asset transactions. It also contrasts with mainland China’s restrictions on cryptocurrency activity, while Hong Kong continues to develop a framework for regulated private digital assets.
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Solana’s Tokenized Asset Ecosystem
Solana’s infrastructure is already supporting stablecoins and tokenized assets. According to rwa.xyz data cited in the reports, as of October 30, 2026, the network held $18.89 billion in real-world assets, including $14.13 billion in stablecoins. The same data showed a monthly transaction volume of $370.94 billion across 13.56 million addresses.
The HKDAP integration adds a Hong Kong dollar-denominated asset to this ecosystem and could provide institutional participants with a settlement option connected to Hong Kong’s banking system.
Solana is also strengthening its regional presence by joining the Hong Kong government’s Office for Attracting Strategic Enterprises (OASES) initiative, establishing a local office and working with PwC on the TAP tokenization project.
Solana Foundation APAC representative Lu Yin said the deployment could make Hong Kong dollar-denominated digital value more accessible for real-world uses and help connect regulated financial infrastructure with blockchain services.
Competition and Market Context
The collaboration comes as Hong Kong’s stablecoin market develops. HSBC has also introduced its Hong Kong dollar-pegged RedCoin stablecoin through PayMe, which serves 3.3 million users, with tokenized investments expected through the HSBC HK app.
Anchorpoint’s approach uses a public blockchain architecture, positioning HKDAP for interoperability and potential use across networks and markets. Solana will compete with other blockchain networks, including Ethereum and TRON, for stablecoin settlement and tokenized asset activity.
The reports indicate that HKDAP’s rollout for retail use in compatible wallets is expected after operational compliance checks are completed.
Outlook
The partnership gives Solana access to a regulated Hong Kong dollar stablecoin and connects HKDAP with a public blockchain designed for fast settlement. Its impact will depend on the rollout, wallet support, adoption by retail and institutional users, and the development of tokenized products.
For Anchorpoint, the collaboration offers a route to expand HKDAP beyond its initial market. For Hong Kong, it supports efforts to build a regulated digital asset ecosystem linking traditional finance with blockchain-based payments and capital markets.
FAQs
What is HKDAP?
HKDAP is a Hong Kong dollar-pegged stablecoin issued by Anchorpoint Financial, a consortium licensed by the HKMA.
What does the Solana partnership enable?
It supports native issuance and redemption of HKDAP on Solana, with applications including payments, institutional settlement and tokenized assets.
Who is behind Anchorpoint Financial?
The consortium includes Standard Chartered Bank (Hong Kong), HKT and Animoca Brands.
When will HKDAP be available for retail use on Solana?
The reports say retail rollout in compatible wallets is expected after operational compliance checks are completed.
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