Standard Chartered backed HKDAP stablecoin delayed to August

Anchorpoint Financial is adjusting its schedule for the launch of its Hong Kong dollar stablecoin, known as HKDAP. The project, which has backing from Standard Chartered, missed its goal for a second quarter release and failed to meet the target for the end of July. Current reports indicate the team now expects the rollout to happen sometime in August.

This delay highlights the complex nature of launching regulated digital assets in Hong Kong. As financial institutions work to align with local requirements, timelines often shift to ensure full compliance. The project remains a significant test case for how traditional banking giants integrate stablecoins into the regional financial system.

Investors and market observers are keeping a close watch on the new August timeline. A successful launch could set a strong precedent for other institutions looking to issue stablecoins under the new local regulatory framework.