The Solana Foundation joined forces with Anchorpoint Financial, an institutional issuer regulated by the Hong Kong Monetary Authority (HKMA) and backed by Standard Chartered. The partnership aims to enable the native issuance and redemption of the HKDAP stablecoin on the Layer 1 network. Lu Yin, APAC Regional Director at the Solana Foundation, confirmed that the integration seeks to facilitate everyday payments and real-world asset (RWA) settlements through authorized banking rails.
This partnership connects Solana’s high-speed infrastructure directly with Hong Kong’s banking system, enabling the scaling of a stablecoin ecosystem that already surpasses $14 billion in volume and circulating supply. In contrast to closed initiatives such as HSBC’s private network for its RedCoin token, Anchorpoint opted for an interoperable public architecture that positions Solana as a key settlement hub against direct competitors such as Ethereum and TRON.
The next step will involve the rollout of HKDAP for retail use in compatible wallets once operational compliance checks are finalized, setting the benchmark for institutional adoption in Asia.
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