Tldr:
- Anchorpoint Financial completed Ethereum mainnet transfer testing of HKDAP with OSL and PantherTrade in May 2026.
- Each HKDAP token minted was fully backed by reserve assets and was redeemed after the end of transfer testing.
- OSL Group will leverage the infrastructure of StableHub, BizPay and Banxa to support the phased rollout of HKDAP.
- The phased rollout of HKDAP is scheduled to begin by the end of the second quarter of 2026, targeting cross-border payments and capital flows.
Hong Kong’s first officially licensed stablecoin, HKDAP, It has been erased A major milestone. Anchorpoint Financial, OSL Group, and PantherTrade backed by Futu Holdings have completed transfer testing on the Ethereum mainnet.
The test involved converting Hong Kong dollar legal funds into reserve assets. All tokens were fully redeemed after the test ended. An official release is scheduled in phases before the end of the second quarter of 2026.
The HKDAP transfer test represents a structured step forward
Anchorpoint Financial acquired Stablecoin source License from the Hong Kong Monetary Authority earlier this month.
The company is a joint venture backed by Standard Chartered Bank Hong Kong, Hong Kong Telecom under the umbrella of PCCW, and Animoca Brands.
These institutional partners bring banking infrastructure and Web3 expertise to the project. Together, they form a foundation built on regulatory compliance and trust.
Standard Chartered’s corporate trust infrastructure and services supported the entire testing process. Each HKDAP token minted and transferred was fully backed by reserve assets throughout the testing period.
This bank-level support is key to what separates HKDAP from unregulated alternatives. The structure ensures that token holders have complete confidence in pegging the token to the Hong Kong dollar.
The OSL Group confirmed its role in supporting the ongoing testing and preparations for the release. This was stated by Kevin Cowie, CEO of OSL Group “OSL has created a comprehensive stablecoin trading infrastructure, including OSL StableHub for seamless stablecoin and forex trading, OSL BizPay for cross-border B2B payments, and Banxa, a deposit and withdrawal channel for stablecoins.”
He added that this product range provides better services to OSL’s customers and partners. The infrastructure supports the sustainable development of the broader stablecoin ecosystem.
PantherTrade, wholly owned by Futu Holdings, also participated in testing the Ethereum mainnet transfer. Zhou Jue, Global Head of Digital Assets at Futu Group, stated that the company “Continues to encourage qualified investors to deploy in compliant digital assets.”
He added that the collaboration will provide Futu’s extensive network of investors and institutions with stable and efficient HKD stablecoin solutions. The partnership reflects the growing demand for structured services Digital assets Products among major investors.
Phased issuance plans support Hong Kong’s digital asset vision
Dominic Maffei, CEO and co-founder of Anchorpoint Financial, described the test as a crucial first step. He stated that “Completing the HKDAP minting and transfer testing in cooperation with OSL is the first step towards Anchor Financial’s goal.
He confirmed that HKDAP will begin a phased rollout later in 2026 to support payments and Capital flows. This offering is designed to benefit the real economy, not just digital asset markets.
Mafi also pointed out that “Anchor Point Finance is focused on creating a safe, convenient and regulated token for Hong Kong.”
He added that achieving a more efficient tokenized financial assets market is a key part of Hong Kong’s vision. This vision positions the city as a global hub for digital assets. Reaching this goal requires close collaboration with industry players such as Futu and PantherTrade.
OSL confirmed that it will continue to support Anchorpoint Financial and its ecosystem partners in preparations for the issuance. The platform plans to develop a robust and regulated stablecoin system for the Hong Kong dollar and digital assets.
The deep integration with HKDAP is expected to provide users with secure channels for exchanging fiat and digital assets. It will also support efficient cross-border payment solutions and broader adoption of tokenized financial products.
A successful Ethereum mainnet test indicates this Hong Kong The stable framework is now fully functional. Regulatory clarity, institutional support, and tested infrastructure are now aligned for the next phase.
As the rollout begins, market participants will be monitoring how HKDAP performs in direct payment environments. The project could set a model for other regulated stablecoin initiatives across the region.
