WuBlockchain
Anchorpoint Financial — one of the first holders of a stablecoin issuer license from the Hong Kong Monetary Authority — has completed a transfer test of the Hong Kong dollar-pegged HKDAP on the Ethereum mainnet alongside OSL Group and Futu Holdings-backed licensed venue PantherTrade.
Why it matters
This is the first end-to-end on-chain trial for a stablecoin issued under Hong Kong's formal licensing regime, which began accepting applicants last year. The pairing matters: a regulated HKD stablecoin settling on Ethereum's mainnet puts Hong Kong's regime into direct conversation with the dollar-denominated stablecoin economy that already moves tens of billions through the same rails.
Market impact
The team said HKDAP is expected to begin phased official issuance by the end of Q2, giving corporates and licensed venues a compliant on-chain HKD settlement primitive for the first time. Watch the issuance ceiling and reserve composition once the formal minting window opens — those two variables will define how seriously HKDAP competes as a regional settlement asset rather than a regulatory proof-of-concept.
Source: [【穩定幣】碇點金融：伙OSL及富途旗下獵豹交易完成使用港元穩定幣HKDAP轉賬測試 — 香港經濟日報HKET](https://inews.hket.com/article/4128489/%E3%80%90%E7%A9%A9%E5%AE%9A%E5%B9%A3%E3%80%91%E7%A2%87%E9%BB%9E%E9%87%91%E8%9E%8D%EF%BC%9A%E4%BC%99OSL%E5%8F%8A%E5%AF%8C%E9%80%94%E6%97%97%E4%B8%8B%E7%8D%B5%E8%B1%B9%E4%BA%A4%E6%98%93%E5%AE%8C%E6%88%90%E4%BD%BF%E7%94%A8%E6%B8%AF%E5%85%83%E7%A9%A9%E5%AE%9A%E5%B9%A3HKDAP%E8%BD%89%E8%B3%AC%E6%B8%AC%E8%A9%A6)
Frequently asked questions
-
What is HKDAP and who is issuing it?
HKDAP — short for HKD At Par — is a Hong Kong dollar-pegged stablecoin developed by Anchorpoint Financial, one of the first holders of a stablecoin issuer license from the Hong Kong Monetary Authority.
-
Which companies ran the Ethereum mainnet test?
Anchorpoint Financial conducted the trial alongside OSL Group and PantherTrade, a licensed trading platform wholly owned by Futu Holdings.
-
When is HKDAP expected to begin official issuance?
The team said HKDAP is expected to begin phased official issuance by the end of Q2 this year, following the successful Ethereum mainnet transfer test.
-
Why is the Ethereum mainnet choice significant?
Settling on Ethereum mainnet puts Hong Kong's regulated HKD stablecoin on the same rails that already process tens of billions in dollar-denominated stablecoin volume, opening direct interoperability with global DeFi liquidity.
-
What should investors watch after issuance begins?
The two key variables are the issuance ceiling and reserve composition — together they will determine whether HKDAP becomes a real regional settlement asset or remains a regulatory proof-of-concept.
TheBlock
Lookonchain
CoinDesk
Crypto Rank News
CryptoSlate
WatcherGuru
CoinTelegraph