According to CoinMeta, and as reported by Reuters, the joint venture Anchorpoint Financial of standard Chartered announced on August 12 that it had begun the first phase of launching its Hong Kong dollar-backed stablecoin, providing limited access to institutional distributors and professional investors. The stablecoin, named HKD at Par ( HKDAP ), will allow initial distributors and users to integrate it into commercial applications. Authorized distributors will provide exchange services between HKDAP and fiat currencies for institutional, corporate users, and professional investors, utilizing their existing customer networks to integrate HKDAP into commercial and financial activities. Anchorpoint, the CEO and co-founder of Anchorpoint, stated: "Our current focus is on supporting the development of commercial applications to demonstrate the value of regulated tokenized currencies in real-world scenarios, including payment and settlement use cases." Chartered is a joint venture between standard Chartered and Animoca Brands as well as Hong Kong Telecom, with plans to achieve broader retail adoption by the end of 2026 depending on market conditions.