Anchorpoint plans to issue and redeem its Hong Kong dollar stablecoin HKDAP directly on Solana. The announcement gave no launch date. HKDAP currently runs on Ethereum for institutional and professional users.
Anchorpoint announced on October 30 a partnership with the Solana Foundation, its first public blockchain foundation collaboration. Under the agreement, the company plans to issue and redeem the Hong Kong dollar stablecoin HKDAP directly through the Solana blockchain.
Solana targets payments and tokenized assets
The companies plan to enable near-instant settlement for payments and for transactions of tokenized financial assets. Anchorpoint believes Solana's wallet technology will facilitate integration of HKDAP with corporate partners and consumer applications. However, the announcement did not provide a launch date.
HKDAP currently operates on Ethereum through a limited beta program for institutional and professional users. Once Anchorpoint completes its final preparations, it plans to extend access to retail customers.
The Solana Foundation estimates around $4.9 billion in tokenized assets on its network, and says over 835,000 people hold tokenized real-world assets.
Anchorpoint holds a Hong Kong issuer license
Anchorpoint received its stablecoin issuer license from the Hong Kong Monetary Authority in April 2026. Standard Chartered, HKT and Animoca Brands established the company as a joint venture.
According to Anchorpoint, each HKDAP maintains a one-to-one value against the Hong Kong dollar. The company currently distributes the token through authorized partners, including HashKey, OSL and Standard Chartered Hong Kong.
Unlike HSBC's private blockchain approach, Anchorpoint intends to expand HKDAP across public blockchain networks. HSBC launched its RedCoin stablecoin through PayMe on October 23, targeting the app's 3.3 million users.
Solana Foundation joins tokenized money program
Beyond the blockchain integration, the Solana Foundation will join Anchorpoint's Tokenised Money Adoption Programme as a strategic partner. The program already includes PwC Hong Kong and focuses on research, education and industry collaboration.
Lu Yin, the Solana Foundation's Asia-Pacific head, identified payments and tokenized financial products as potential applications. The foundation also plans to establish a local presence in Hong Kong following its participation in the OASES program.
Source: CoinGape
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