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While mainland China maintains a strict ban on cryptocurrency transactions, the American platform Solana Foundation has made a major step in the region by signing a strategic agreement with a local licensed issuer in Hong Kong, Anchorpoint Financial Limited.
The partnership launches the HKDAP stablecoin for retail payments and tokenized assets — this is the project's first direct collaboration with a public blockchain foundation.
The Hong Kong dollar moves to Solana. Key figures and facts
The issuer Anchorpoint is a consortium of Standard Chartered Bank (Hong Kong), telecom operator HKT and Animoca Brands, which received the FRS01 license from the Hong Kong Monetary Authority (HKMA).
Integration with Solana provides instant issuance and redemption of the asset, opening a legal banking gateway for retail and for trading real-world assets (RWA).
The deal rests on Hong Kong’s Stablecoins Ordinance, which took effect on August 1, 2025: any issuer of a fiat-referenced stablecoin must hold an HKMA license, fully back the token with high-quality liquid reserves and redeem it at par.
Since the Hong Kong dollar is pegged to the US dollar within a 7.75–7.85 band, HKDAP effectively becomes another dollar-linked instrument, but one issued in a separate jurisdiction outside direct US regulation.
Solana's infrastructure is ready for this: according to rwa.xyz data as of October 30, 2026, the total RWA volume on the platform stands at $18.89 billion, of which $14.13 billion (around 75%) is made up of stablecoins with a monthly transfer volume of $370.94 billion across 13.56 million addresses.
Consolidating its position, Solana Foundation is joining Hong Kong's government program OASES, opening a local office and rolling out the TAP tokenization program together with PwC.
This infrastructure creates a legal track for big capital. While mainland China tests the digital yuan exclusively within state-controlled pilot zones, Hong Kong provides clear rules of the game for private business.
As a result, Standard Chartered and its partners get a fully legitimate settlement instrument, and the international market gets direct access to Hong Kong dollar liquidity via the Solana blockchain.
Arman Shirinyan
Dan Burgin
