Anchorpoint Explores Expanding HKDAP to Solana, Plans Native Minting and Redemption
Key Facts
Anchorpoint Financial announced a strategic collaboration with the Solana Foundation on 30 October 2026 to explore expanding its HKDAP stablecoin to the Solana network, opening the possibility of making the Hong Kong dollar-backed coin available across a broader ecosystem. Anchorpoint said it plans to support native minting and redemption on the network, with near-instant settlement. The announcement remains a plan to explore expansion and does not mean HKDAP has already launched on Solana. The plan targets retail payments, payments, trading in tokenized real-world assets and other high-volume use cases. The two companies also say they aim to broaden access to the Hong Kong dollar across Solana’s global ecosystem.
The move builds on a stablecoin model that Anchorpoint describes as backed by the Hong Kong dollar, with a nominal value of HK$1.00 per unit and redeemable one-for-one for the currency. The transparency page shows cumulative transaction volume of 259,094,758, while circulating supply stood at 103,102,420 and reserves at 104,206,693, as of 30 October 2026. Over the latest 30 days, the company issued 103,496,769 units and redeemed 1,501,270, for a net increase in circulation of 101,995,499. These figures provide a snapshot of the coin’s current activity ahead of any potential expansion to an additional network. During the pilot access phase, HKDAP is currently available only on Ethereum’s mainnet.
Anchorpoint says pilot access is limited to corporate users and professional investors, while a full launch is targeted for early in late 2026, subject to readiness across the issuance, distribution and custody ecosystem. This places the collaboration with Solana within an expansion path that is not yet complete, alongside the current limited-access phase. According to Anchorpoint, the parties will work to facilitate access to HKDAP and related tokenized products through corporate partners and consumer applications. The company did not specify in its announcement when the coin would become available on Solana. The stated target for a full launch remains tied to completing the necessary ecosystem arrangements.
The Solana Foundation will also join Anchorpoint’s Tokenized Asset Adoption Program, known as TAP, as a strategic partner, following PwC’s recent addition, according to the company’s statement. The program brings together parties working to promote the adoption of tokenized money and products, while the collaboration adds a potential route for making HKDAP available through new applications and partners. A Solana Foundation official said HKDAP on the network “could make Hong Kong dollar-denominated digital value more accessible and useful across a broader range of real-world use cases.” The wording describes potential future applications for the coin and does not establish that new uses have been realized to date. Anchorpoint links those uses to payments and tokenized trading, as well as the other high-volume cases it targets.
Anchorpoint Financial describes itself as a subsidiary of Standard Chartered Bank (Hong Kong) and a joint venture established with HKT and Animoca Brands in February 2025. The Hong Kong Monetary Authority’s register says Anchorpoint Financial Limited holds the FRS01 stablecoin issuer license, effective since 10 April 2026, and identifies it as a joint venture between Standard Chartered Bank (Hong Kong), HKT and Animoca Brands. Hong Kong’s licensing regime for stablecoin issuers took effect on 1 August 2025, making the issuance of fiat-referenced stablecoins a regulated activity requiring a license. The HKMA lists domestic and cross-border payments and settlement of tokenized asset trades among the targeted uses for licensed stablecoins. The authority had expected regulated stablecoin launches in Hong Kong to begin from the middle to the second half of the year, after system testing and arrangements for risk and human resources were completed.
On network infrastructure, Solana said in October 2026 that stablecoin supply on the network reached 17.3 billion dollars during September, while payment channels exceeded one million payments per second in tests. This comes as Anchorpoint seeks to broaden access to a Hong Kong dollar-denominated coin across the network’s global ecosystem. In the market, SCBFY shares closed at 55.55 dollars on 30 October, compared with a close of 56.91 dollars in the previous session, according to EL7 data. The close coincided with the collaboration announcement, but the data provided do not attribute the share move to the announcement. The full launch remains targeted for early in late 2026, while no specific date has been announced for expanding HKDAP to Solana.