HKDAP (HKDAP) Pre-launch Stablecoin Tracker
HKDAP
Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
Full launch status and history
HKMA-licensed stablecoin issuer FRS01, effective April 10 2026; JV between Standard Chartered, HKT, and Animoca Brands; 1:1 backed by HKD-denominated high-quality liquid assets. On May 13 2026, Anchorpoint, OSL Group, and PantherTrade completed a full-lifecycle test transfer on Ethereum mainnet (fiat funding, reserve, mint, transfer, full redemption) without putting tokens into circulation, confirming Ethereum as the deployment chain. The original end-of-Q2 2026 phased rollout target closed on June 30, 2026 with no public circulating token. On July 21 2026 Caixin reported, citing people familiar with the plans, that Anchorpoint will launch HKDAP within the month with distribution through licensed exchanges OSL and HashKey, which are already testing payment and fund use cases. The July window then closed without a launch: on August 3 2026 Standard Chartered CEO (HK) Mary Huen said work continues since the April licence, public-blockchain testing is ongoing, and the HKDAP launch announcement is now expected within August 2026, with a B2B2C distributor model whose distributor list follows the formal launch. The August window was met: on August 11 2026 OSL Group announced it was among the first key authorised distributors under an HKDAP beta access programme, and on August 12 2026 HashKey Exchange joined as a distributor and reported completing an initial mint-and-redemption cycle including fiat conversion both ways. Access is restricted to institutions, corporate clients, and professional investors, with retail targeted no earlier than late 2026. Anchorpoint has published no launch press release of its own. The anchorpoint.hk site still reads 'has not yet officially launched' with an empty partner list, so the go-live is sourced from the distributors. Anchorpoint disclosed neither the first-transaction value nor the admitted client count, but the deployment is now identified: HKDAP is an upgradeable ERC-20 at 0x87622385F960fcCB3121d6D0A9513bd1D9Bed6cA on Ethereum (6 decimals, name "HKD At Par"), carrying a supply of 527,199.52 HKDAP as of August 29 2026, which held flat through August 31 and then rose across the first week of September to 698,833.91 HKDAP (about $89.1K) on September 6 2026. On August 14 2026 BlockSec published a contract review reporting that the KYC proof argument is discarded so any proof passes, that de-registering a compromised KYC provider does not stop wallets it onboarded, that a single key can mint, burn, pause, or freeze while two keys control all upgrades and roles, and that debug logging, a zero-run optimizer, and uploaded test files suggest a pre-production build was deployed to mainnet. DefiLlama began tracking HKDAP as stablecoin id 437 on August 27 2026, reporting circulating supply consistent with the on-chain figure. Supply is therefore now measurable, but no accepted source returns a price: the DefiLlama list price field is null, coins.llama.fi resolves neither the Ethereum contract nor the CoinGecko id, and anchorpoint-hkd-at-par remains a preview listing with zero supply and no platforms. Pharos holds HKDAP pre-launch until a fetchable price path exists.
At a Glance
- Backing
- Real-World Asset Backed
- Governance
- Centralized (CeFi)
- Peg Currency
- Hong Kong Dollar
- Jurisdiction
- Hong Kong (HKMA (Stablecoins Ordinance))
Launch Timeline
Pushed OnceQ2 2026 → H2 2026 (current)
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DefiLlama begins tracking HKDAP, giving the token its first public circulating-supply figure
DefiLlama adds HKDAP as stablecoin id 437 (peggedHKD, fiat-backed), reporting circulating supply of roughly 527,200 HKDAP. The figure matches the on-chain total supply of the Ethereum deployment at 0x87622385F960fcCB3121d6D0A9513bd1D9Bed6cA. No price field is populated on the listing.
SourceBlockSec publishes HKDAP contract security review flagging KYC and key-control defects
BlockSec reports that the KYC proof argument is passed in but discarded so any proof including an empty string passes, that an isActive logic error lets wallets onboarded by a de-registered KYC provider keep transacting, and that a single key can mint, burn, pause, or freeze while two keys control all upgrades and roles, with no timelocks or multi-signature requirements on high-risk operations. Debug logging left in the proxy fallback, an optimizer set to zero runs, and test files uploaded to Etherscan indicate a pre-production build was deployed to mainnet.
SourceHKDAP enters institutional beta; HashKey completes first mint and redemption
Anchorpoint begins the first phase of its HKDAP rollout with HashKey Exchange joining OSL Group as an authorised distributor. HashKey reports completing an initial minting and redemption cycle for eligible clients, including fiat conversion into and out of the stablecoin. Access is restricted to institutions, corporate clients, and professional investors; retail is targeted no earlier than late 2026. Circulating supply, first-transaction value, and admitted client count were not disclosed, and no deployment contract address was published.
SourceOSL Group named among first authorised distributors for HKDAP beta access
OSL Group announces it is among the first key authorised distributors for HKDAP under Anchorpoint's beta access programme, with intended use cases spanning tokenised funds, trade finance, and cross-border payments. Distribution is limited to institutional and professional investors.
SourceEnd-of-July window missed; Standard Chartered expects HKDAP launch announcement within August
Standard Chartered Hong Kong CEO Mary Huen confirms work has continued since the April licence with public-blockchain testing ongoing; the launch announcement is now expected within August 2026 under a B2B2C distributor model, with the distributor list to follow the formal launch.
SourceCaixin reports HKDAP launch planned within July, distributed via OSL and HashKey
Citing people familiar with the matter, Caixin reports Anchorpoint will launch HKDAP this month, with licensed exchanges OSL Group and HashKey Exchange distributing it and already testing online-payment and digital-asset-fund use cases. A joint Standard Chartered / Anchorpoint announcement is said to be roughly two weeks out. No official issuer confirmation and no deployment contract address published.
SourceHKDAP completes full-lifecycle test transfer on Ethereum mainnet with OSL Group
Anchorpoint and OSL Group execute an end-to-end production-grade test (fiat funding, reserve, mint, transfer, full redemption) on Ethereum mainnet; tokens were not placed into public circulation. Confirms Ethereum as the deployment chain.
SourceHKMA warns of fake HKDAP and HSBC tokens; confirms no licensed issuer has tokens in circulation
SourceHKMA grants stablecoin issuer licence to Anchorpoint Financial
The HKMA grants Anchorpoint Financial Limited a stablecoin issuer licence under the Stablecoins Ordinance, effective April 10 2026.
SourceThe Proof Nobody Checks
The first HKMA-licensed HKD stablecoin under the Stablecoins Ordinance, now live in an institution-only beta and finally measurable. After two missed launch windows, HKDAP went out on August 12 2026 attested by its distributors rather than its issuer. OSL Group and HashKey Exchange announced themselves as authorised, while anchorpoint.hk read "has not yet officially launched." DefiLlama picked the token up on August 27, and the Ethereum deployment's supply, a few hundred thousand HKDAP in its first weeks, is now independently verifiable. On August 14 BlockSec published a review of that same contract: the KYC proof argument is passed in and then discarded, so any proof, including an empty string, passes; de-registering a compromised KYC provider does not stop the wallets it onboarded from transacting; a single key can mint, burn, pause, or freeze, with two keys controlling every upgrade and role and no timelocks or multi-signature anywhere on the high-risk path. Debug logging left in the proxy fallback, an optimizer set to zero runs, and test files uploaded to Etherscan point to a pre-production build sitting on mainnet. The regulator vetted the issuer, not the bytecode. Pharos still holds HKDAP pre-launch, though the reason has changed: supply is no longer missing; price is, with DefiLlama reporting null and CoinGecko carrying a preview listing with no market data. The licensing playbook rests on segregated , HKMA-mandated , and a regulated path scoped for HKD-denominated settlement. None of this is enforced by the contract that actually moves the tokens.
Updated
Discover
HKDAP Stablecoin Security Review: Live, Licensed, Not Ready
BlockSec reviews the deployed HKDAP contract and finds discarded KYC proofs, ineffective provider revocation, single-key mint/burn/pause/freeze authority, and pre-production build artifacts on mainnet.
Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin
Anchorpoint begins a limited HKDAP rollout focused on institutional payments and settlement, with HashKey Exchange and OSL Group as authorised distributors and retail access possible as early as end-2026.
Standard Chartered-backed Anchorpoint eyes August HKDAP stablecoin rollout
After missing the end-of-July window, Standard Chartered says the HKDAP launch announcement is expected within August 2026, with public-blockchain testing ongoing and a B2B2C distributor model.
Animoca-backed Anchorpoint to launch regulated HKD stablecoin HKDAP
Standard Chartered, HKT, and Animoca Brands JV receives first HKMA stablecoin license for HKD-pegged HKDAP.
OSL and Anchorpoint complete HKDAP stablecoin test transfers on Ethereum
Anchorpoint and OSL Group complete a full-lifecycle HKDAP test on Ethereum mainnet: fiat funding through mint, transfer, and redemption, ahead of a phased Q2 2026 launch.
Standard Chartered-backed venture said to launch Hong Kong stablecoin this month
Caixin reports Anchorpoint will issue HKDAP within July 2026, distributed through OSL and HashKey, ahead of a joint announcement with Standard Chartered.
Links
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