Anchorpoint, the Hong Kong stablecoin issuer whose largest shareholder is Standard Chartered, plans to mint and redeem its Hong Kong dollar stablecoin HKDAP natively on Solana SOL$94.77-7.7%. Solana's official account announced the plan on 30 October 2026, calling it Anchorpoint's "first collaboration with a public network" and saying HKDAP would settle "near-instantly" and reach "everything from retail payments to tokenized assets." HKDAP already runs on Ethereum, so the "first" refers to a formal partnership with a network rather than the token's first public blockchain. Neither side has published a Solana launch date or a token address yet.
Native minting means Anchorpoint would create HKDAP directly on Solana when a customer deposits Hong Kong dollars, and destroy it when the customer cashes out. That avoids a bridged copy of the Ethereum token, which would add the risk of the bridge holding the originals. On Solana, the licensed issuer itself would stand behind every HKDAP in circulation, with no bridge operator in between.
Who is behind Anchorpoint and the HKDAP stablecoin
Anchorpoint is a joint venture set up in February 2025, with Standard Chartered Bank (Hong Kong) as its largest shareholder alongside telecoms group HKT and Animoca Brands, according to Standard Chartered's press release. HKDAP stands for "HKD At Par," a stablecoin backed one-for-one by Hong Kong dollars.
On 10 April 2026, the Hong Kong Monetary Authority granted the city's first two stablecoin issuer licences, to Anchorpoint Financial and to HSBC, under the stablecoin law that took effect on 1 August 2025. Anchorpoint sells through licensed intermediaries rather than directly to the public, a model Standard Chartered described as business-to-business-to-consumer.
So far HKDAP lives on Ethereum only. Anchorpoint opened beta access in August 2026 for institutional distributors and professional investors on Ethereum mainnet, with HashKey Exchange, part of HashKey Group, as a named distributor, The Block reported. OSL Group joined as a second distributor, and Anchorpoint said it could extend HKDAP to retail users "as early as the end of 2026," according to CoinDesk. That target covers HKDAP generally, not the Solana deployment.
What the Solana Foundation and Anchorpoint agreed
News reports describe a deal that goes beyond a chain listing. PANews described a memorandum of understanding that "will also provide a regulated channel for global capital to access HKD payments, products and tokenized assets." PANews and crypto.news both reported that the Solana Foundation is joining Anchorpoint's Tokenised Money Adoption Programme, an industry group for education and research on tokenized money, as a strategic partner alongside PwC. We could not find an Anchorpoint or Solana Foundation release setting out the terms.
HKDAP is the latest of several Hong Kong deals for Solana this month. Pando's spot Solana ETF began trading in Hong Kong on 13 October 2026, Solana Company was named a Hong Kong strategic enterprise on 22 October, and Mirae Asset Securities (HK) issued tokenized notes on Solana on 28 October. A licensed Hong Kong dollar on the same network would give products like these a local settlement currency alongside USD stablecoins.
HKDAP versus HSBC RedCoin: two licensed HKD stablecoins, two network choices
Hong Kong's other licensee has taken a different route. HSBC began rolling out its RedCoin (RCHKD) stablecoin to more than 3.3 million PayMe app users on 23 October 2026, CoinDesk reported. HSBC's RedCoin page says the token runs on smart contracts on "HSBC's own DLT network," a ledger the bank operates itself. Anchorpoint is going the other way, onto public blockchains where third-party wallets, payment apps and tokenized-asset issuers can hold and move HKDAP directly.
HKDAP on Solana: launch date, mint address and redemption terms not yet published
The announcement leaves the practical details open. The Defiant noted that HKDAP remains in Ethereum-only beta, and no report gives a go-live date for Solana. Anchorpoint has not said who will be able to mint and redeem on Solana, whether the distributor-only model carries over, or what freeze and admin controls the Solana token will have.
There is also no official HKDAP token on Solana yet, which matters because imitations already exist. Solana Compass's token index lists at least 17 Solana tokens using the HKDAP ticker as of 30 October 2026, most created between April and July 2026 and many through Pump.fun, all with zero liquidity and none issued by Anchorpoint. In late April 2026, Anchorpoint said it "has not issued any tokens or products under the HKDAP name" after fake tokens appeared, Cointelegraph reported. Until Anchorpoint publishes a Solana mint address through its own channels, any token calling itself HKDAP on Solana is not the licensed stablecoin.
