Standard Chartered says it is the first bank to distribute a Hong Kong dollar–pegged stablecoin, HKDAP, issued by Anchorpoint. The bank, which operates globally and reports about $850 billion in assets, announced it will distribute the token to eligible clients and partners.
The announcement positions HKDAP as part of a broader effort to bring stablecoin-based payments and settlement tools into conventional banking. Cointelegraph adds that Standard Chartered plans to use the token for settlements tied to tokenized money market funds in the fourth quarter, linking distribution with planned downstream use cases.
While both outlets agree on Standard Chartered’s role as an early banking distributor of HKDAP and on Anchorpoint as the issuer, they emphasize different immediate implications: CoinDesk focuses on the distribution announcement itself, while Cointelegraph highlights the planned phased rollout and timing for financial-market settlement applications.
