Solana (SOL) to Power Anchorpoint's FRS01-Licensed HKDAP Stablecoin

Anchorpoint Plans HKDAP Issuance on Solana

Solana (SOL) Foundation has signed a strategic agreement with Anchorpoint Financial Limited, a Hong Kong-licensed stablecoin issuer, to open the HKDAP Hong Kong dollar stablecoin for retail payments and tokenized assets on the Solana (SOL) network. Announced on Friday, the arrangement is the first direct partnership the issuer project has formed with a public blockchain foundation. Anchorpoint operates as a consortium of Standard Chartered Bank Hong Kong, the telecom company HKT and Animoca Brands, and it holds an FRS01 license from the Hong Kong Monetary Authority, the framework required to issue a fiat-referenced stablecoin in the city. FRS01 is the license class under which Hong Kong authorizes stablecoins that reference fiat currency. Under the deal, the Solana integration is set to enable instant issuance and redemption of HKDAP while giving individuals a lawful banking gateway for personal use and for trading real-world assets. The legal footing comes from the Hong Kong Stablecoin Ordinance, in force since 1 August 2025, which requires every issuer referencing fiat currency to obtain a Monetary Authority license, back its tokens fully with high-quality liquid reserves and honor one-to-one redemption. The stated uses span consumer payments of the kind the PayFi sector has been building, plus on-chain versions of traditional instruments such as bonds and fund shares. The partnership takes shape while crypto trading remains banned on the Chinese mainland, leaving Hong Kong as the region's licensed alternative. Neither party has published a launch date for the token, and the announcement describes scope in terms of retail payments and tokenized-asset transactions rather than a go-live schedule. Live market tracking shows the Solana price slipped 6.7% over the past 24 hours, a move with no disclosed connection to the agreement.

The HKD Peg Behind HKDAP

The Hong Kong dollar itself shapes what HKDAP becomes in practice. The currency is pegged to the US dollar within a band running from 7.75 to 7.85, so a token referencing it behaves as a dollar-linked instrument, yet one issued in a jurisdiction outside direct US regulation. That positioning gives international markets a liquidity channel separate from the mainland, where the digital yuan stays confined to state-controlled pilot zones. On-chain data shows the network already carrying the asset class at scale: the total value locked in tokenized real-world assets stood at $18.89 billion as of 30 October 2026, with stablecoins making up $14.13 billion of that, roughly 75%. Monthly transfer volume reached $370.94 billion across 13.56 million addresses on the Solana (SOL) network. The Foundation is also joining the Hong Kong government's OASES program, one of the city's official schemes for drawing strategic technology and finance investment, plans to open a local office and is set to run the TAP tokenization program together with PwC. In that frame, the agreement builds a compliant channel for large-scale capital: Standard Chartered and its partners gain a lawful settlement instrument, while international markets can reach Hong Kong dollar liquidity directly over the blockchain. Reserves policy beyond the ordinance minimum has not been detailed. Institutional money has been moving the same direction for months, with banks shifting toward stablecoin infrastructure as cross-border transfers jump 80%, and with a tokenized bond program tied to a $3 billion initiative already testing the rail.

The significance sits less in the token than in the license wrapped around it. FRS01 status forces full reserve backing and one-to-one redemption, the conditions consumer payment tokens have historically failed to meet, and that makes HKDAP a test of whether regulated retail rails can run on a public chain. For a network whose payment capability already runs in production through tools like Solana Blinks, a licensed Hong Kong dollar rail adds a lawful consumer use case in a jurisdiction that has built the rulebook while the mainland keeps its ban. The near-term market backdrop has been heavy, with recent Solana ETF net outflows of $24.82 million over two days, so the deal is a structural marker rather than a same-day catalyst. What is not disclosed matters as well: neither the Foundation nor the consortium has given a launch date for HKDAP or a timetable for the Solana (SOL) integration, so the deal today is a signed plan rather than a live rail. Readers weighing direct exposure can consult our guide on how to buy Solana in the US.