Anchorpoint Financial, the first company to hold a stablecoin issuer license from the Hong Kong Monetary Authority, has successfully completed a live transfer test of its Hong Kong dollar stablecoin HKDAP — short for "HKD At Par" — on the Ethereum mainnet. The test was conducted in partnership with OSL Group and PantherTrade, a licensed trading platform backed by Futu Holdings.
The team has set a phased official issuance target of end-Q2 2025, making HKDAP the first regulated HKD-pegged stablecoin to move from licensing to live on-chain testing in Hong Kong's newly established framework. The HKMA's stablecoin licensing regime, one of the most structured in Asia, requires issuers to demonstrate full-reserve backing and robust operational controls before going live.
The combination of institutional backers — OSL, a publicly listed crypto infrastructure group, and Futu Holdings, one of…
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