Anchorpoint Plans Native HKDAP Issuance on Solana

Hong Kong's Stablecoins Ordinance, in force since August 2025, requires fiat-backed tokens to run through licensed issuers, and Standard Chartered-backed Anchorpoint built HKDAP as a compliant Hong Kong dollar token. It has stayed in Ethereum-only beta while HSBC moved faster, launching its own RedCoin for retail payments through the PayMe app. That gap between a bank-backed stablecoin already in consumers' hands and one still in testing sets up the competitive backdrop for Anchorpoint's move to add Solana.

Retail users still cannot touch HKDAP; access remains limited to beta participants on Ethereum, and the Solana expansion changes nothing about that today. What it signals is where Anchorpoint expects demand: minting and redeeming natively on Solana points toward faster settlement and lower fees for the exchanges and institutions that will eventually plug into it, once retail access opens. Until a token address and date exist, traders and builders have nothing to integrate yet, only a roadmap.

A Standard Chartered-linked issuer choosing to work with the Solana Foundation marks regulated stablecoins moving past Ethereum as a default venue, chasing throughput and cost advantages that institutional rails increasingly demand. It also puts weight on a trade-off worth naming plainly: multi-chain issuance by a single licensed issuer concentrates mint-and-redeem control in one company's hands across two ecosystems, which is a different model from the permissionless transfer logic stablecoins were originally built to extend.

The open items are concrete: Anchorpoint has not published a launch date or a token address for HKDAP on Solana, and no retail rollout has been announced on either chain. A sharp rise in HKDAP circulation just before the announcement is worth tracking against whatever figures accompany the eventual Solana listing, since that will show whether the bet on a second chain actually draws users away from HSBC's already-live RedCoin.