Aug 12 (Reuters) – Standard Chartered’s joint venture Anchorpoint Financial said on Wednesday it had begun the first \u200cphase of the rollout of its Hong Kong dollar-backed \u200cstablecoin, offering limited access to institutional distributors and professional investors. <\/p>\n
The stablecoin, called \u200bHKD At Par (HKDAP), will allow initial distributors and users to integrate it into commercial applications, the company said. <\/p>\n
Authorised distributors will offer conversion between HKDAP and fiat currency for institutions, corporate \u200cusers and professional investors, \u2060drawing on their existing client networks to integrate HKDAP into commercial and financial activities, Anchorpoint \u2060said. <\/p>\n
“Our immediate focus is on supporting the development of commercial applications that demonstrate the value of regulated tokenised money in \u200breal-world settings, \u200bincluding payments and settlement use \u200bcases,” said Dominic Maffei, \u200cAnchorpoint chief executive and co-founder. <\/p>\n
Anchorpoint Financial, a Standard Chartered joint venture with Animoca Brands and Hong Kong Telecommunications, said it is targeting broader retail adoption as early as the end of 2026, depending on market conditions. <\/p>\n
It added that it \u200cis adopting a business-to-business-to-consumer model to \u200bexpand participation through agreements with distributors \u200band use-case partners to \u200bbring regulated tokenised money into real-economy applications. <\/p>\n
The \u200claunch comes after the Hong \u200bKong Monetary Authority (HKMA) \u200bin early April approved HSBC and Anchorpoint Financial to issue fiat-backed stablecoins. <\/p>\n
Stablecoins are cryptocurrencies designed to maintain a \u200bconstant value and \u200care usually pegged to a fiat currency such as \u200bthe U.S. dollar. <\/p>\n
(Reporting by Keshav Singh Chundawat in \u200bBengaluru; Editing by Tasim Zahid) <\/p>\n","protected":false},"excerpt":{"rendered":"Aug 12 (Reuters) – Standard Chartered’s joint venture Anchorpoint Financial said on Wednesday it had begun the first…\n","protected":false},"author":2,"featured_media":102008,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21387],"tags":[42897,42899,42919,42918,1772,42920,12582,42921,20677],"class_list":["post-102007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-standard-chartered","tag-anchorpoint","tag-anchorpoint-financial","tag-commercial-applications","tag-fiat-currency","tag-hong-kong","tag-institutional-distributors","tag-joint-venture","tag-professional-investors","tag-standard-chartered"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117082576997525141","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/102007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=102007"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/102007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/102008"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=102007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=102007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=102007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}