Amid a prohibitive environment for cryptocurrency trading on the Chinese mainland, the Solana Foundation has signed a landmark agreement with the licensed issuer Anchorpoint Financial Limited in Hong Kong. The strategic partnership aims to launch the HKDAP stablecoin for retail payments and tokenized assets, marking Solana’s first direct collaboration with a public blockchain entity.
Anchorpoint’s Role and Regulatory Framework
Anchorpoint operates as a consortium alongside Standard Chartered Bank Hong Kong, telecommunications leader HKT, and powerhouse Animoca Brands. This consortium has secured the FRS01 license from the Hong Kong Monetary Authority. Through Solana’s integration, the stablecoin offers immediate issuance and redemption processes, establishing a legal banking gateway for individual transactions and real-world asset trading.
The regulatory foundation for this initiative rests on Hong Kong’s Stablecoin Law, effective August 1, 2025. This legislation mandates that every stablecoin issuer with fiat currency references must acquire a license from the Hong Kong Monetary Authority, back tokens with high-quality liquid reserves, and ensure 1:1 redemption options.
Strategic Positioning of the Hong Kong Dollar
Currently pegged to the U.S. dollar within a 7.75 to 7.85 range, the Hong Kong dollar positions the HKDAP as inherently tied to the dollar. Despite its proximity to U.S. economic policies, the token‘s issuance in a separate jurisdiction offers a distinct liquidity channel in international markets.
Hong Kong provides clear rules for the private sector, while the Chinese mainland focuses the digital yuan in state-controlled pilot regions.
Solana’s Infrastructure and Hong Kong Initiative
Solana’s technological prowess is evident through data, with its network supporting a total Real World Asset (RWA) volume of $18.89 billion as of October 30, 2026, according to rwa.xyz. Stablecoins account for roughly $14.13 billion, or about 75% of this volume. Moreover, the network’s monthly transfer volume is $370.94 billion, facilitated by 13.56 million addresses.
Further expanding its foothold, Solana Foundation is joining Hong Kong’s OASES program, setting up a local office, and launching the TAP tokenization program in collaboration with PwC. OASES is one of Hong Kong’s official programs aimed at attracting strategic technology and financial investments.
This partnership establishes a compliant channel for large-scale capital transactions. While Standard Chartered and its associates gain access to a legitimate exchange medium, the international market benefits from direct liquidity access to the Hong Kong dollar through the Solana blockchain.
