Anchorpoint Partners With Solana Foundation to Bring HKDAP to Solana

A Hong Kong dollar stablecoin that so far lives only on Ethereum now has a second home in view. Anchorpoint Financial Limited, a licensed Hong Kong stablecoin issuer, announced on October 30 a partnership with the Solana Foundation, the company's first collaboration with a public blockchain foundation. The plan is to issue and redeem its Hong Kong dollar stablecoin, HKDAP, directly on Solana.

According to Anchorpoint's announcement, the collaboration aims to explore wider global access to HKDAP. The goal is near-instant settlement for payments and tokenized financial assets. The announcement gave no launch date.

Where HKDAP stands today

HKDAP currently runs on Ethereum in a limited beta for institutional and professional users, and Anchorpoint says it will extend access to retail customers once final preparations are complete. Each token is backed one-to-one against the Hong Kong dollar, with reserve assets held apart from the issuer's operating assets. Distribution runs through HashKey, OSL and Standard Chartered Hong Kong.

Anchorpoint is a joint venture of Standard Chartered, HKT and Animoca Brands. It received its stablecoin issuer license, designated FRS01, from the Hong Kong Monetary Authority in April 2026. That license sits under Hong Kong's Stablecoins Ordinance, which took effect August 1, 2025, and requires HKMA licensing, full high-quality liquid reserves and redemption at par.

What Solana gets

The Solana Foundation will join Anchorpoint's Tokenised Money Adoption Programme as a strategic partner alongside PwC Hong Kong, covering research, education and industry collaboration. The foundation also plans a local presence in Hong Kong after joining the OASES program.

Solana's tokenization numbers are hard to pin down, because the available figures use different yardsticks. Data from rwa.xyz as of October 30 puts Solana's real-world asset volume at $18.89 billion, of which $14.13 billion, about 75%, is stablecoins. The Solana Foundation's own estimate is about $4.9 billion in tokenized assets and more than 835,000 holders of tokenized real-world assets. The two figures measure different things and should not be added or compared directly.

Context: a crowded week for Solana money rails

The deal lands amid a run of institutional moves toward the network. JPMorgan brought its MONY and JLTXX tokenized money funds to Solana last week, and a day before the Anchorpoint news Polygon Labs added Solana to its Open Money Stack.

Banks are not converging on one design, though. HSBC launched its RedCoin stablecoin through PayMe on October 23, targeting 3.3 million users, but on a private blockchain, the opposite of Anchorpoint's public chain approach.

The caveat is plain: with no launch date and HKDAP still in institutional beta on Ethereum, retail use on Solana is not yet live. For now this is a stated intention and a partnership structure, and the measure of success will be actual issuance and balances on Solana.