Standard Chartered venture Anchorpoint begins Hong Kong dollar stablecoin rollout

Aug 12 : Standard Chartered's joint venture Anchorpoint Financial said on Wednesday it had begun the first phase of the rollout of its Hong Kong dollar-backed stablecoin, offering limited access to institutional distributors and professional investors.The stablecoin, called HKD At Par (HKDAP), will allow initial distributors and users to integrate it into commercial applications, the company said.Authorised distributors will offer conversion between HKDAP and fiat currency for institutions, corporate users and professional investors, drawing on their existing client networks to integrate HKDAP into commercial and financial activities, Anchorpoint said."Our immediate focus is on supporting the development of commercial applications that demonstrate the value of regulated tokenised money in