HKDAP, a stablecoin from one of Hong Kong’s two licensed issuers, is being hooked up to merchant payments and a tokenised investment product through two deals involving wealth tech firm Finloop. Both are early and light on numbers, and both come six months after the Hong Kong Monetary Authority granted its two issuer licences.
HKDAP is issued by Anchorpoint Financial Limited, which holds licence FRS01 under the Stablecoins Ordinance, effective April 10, 2026, according to the HKMA’s register. Only two licences were granted that day. The Hongkong and Shanghai Banking Corporation got the other. Anchorpoint is a subsidiary of Standard Chartered Bank (Hong Kong), set up in February 2025 as a joint venture with HKT and Animoca Brands.
The first deal, announced October 16, has Finloop Finance Limited working with Anchorpoint and QFPay Haojin Fintech Limited, a local payment service provider. Finloop Finance and QFPay HK say they have completed a payment in HKDAP. They have also built a setup that lets merchants accept HKDAP and other compliant digital assets while still settling in Hong Kong dollars the way they do today. No transaction value or merchant count was given.
Finloop Finance is licensed by the Securities and Futures Commission and is an authorised HKDAP distributor through what the companies call Beta Access. That lets it offer subscription, redemption, exchange, trading and settlement in the coin.
Dominic Maffei, CEO and cofounder of Anchorpoint, said the development of tokenised money “depends not only on regulatory certainty and technological innovation, but also on how easily it can be accessed and used within everyday payment processes.”
The second deal is a tokenised note for professional investors where subscriptions, redemptions and interest are all paid in HKDAP. Finloop calls it the first of its kind. Fosun International Asset Management Limited advises the product issuer, which isn’t named. Finloop Finance Technology Services Limited is the tokenisation agent. Size, coupon, tenor, underlying assets and blockchain were not disclosed.
Finloop CEO Cai Hua called the payments tie up “a key move for Finloop in taking the HKDAP ecosystem into real commercial use.”
When it granted the licences, the HKMA said both issuers planned to start business within a few months. The parties now say they will tighten operating processes within a compliance framework and look for more uses of regulated digital money in payments and settlement.
Herald View
One payment and a note with no size, no named issuer and no coupon. That’s thin. What matters is the name behind HKDAP: a Standard Chartered unit holding one of two licences, building distribution through partners like Finloop and QFPay HK. Until real merchant volume shows up, Finloop’s “first” counts for very little.
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