Standard Chartered just made history in Hong Kong by becoming the first bank to distribute its regulated HKD stablecoin, HKDAP — one of only two officially approved in the city. Focused initially on major clients and partners, the stablecoin is already being used for investments, asset manager settlements, internal transfers, and cross-border payments, with more use cases coming soon. Anchorpoint Financial, which secured one of the first two licenses back in August, is rapidly building out the infrastructure, while HSBC prepares its own stablecoin for a 2026 launch — possibly via its PayMe app. This marks a pivotal moment: regulated digital currencies are no longer theoretical — they’re now being actively deployed by banks for real-world financial operations.
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