According to CoinDesk, HSBC rolled out its first stablecoin to more than three million everyday app users. The stablecoin, issued under the name HKDAP, was developed through a partnership led by HSBC and Standard Chartered with Anchorpoint. In April, Anchorpoint received Hong Kong’s first stablecoin issuer licenses alongside Standard Chartered. Following this approval, Anchorpoint began rolling out HKDAP in August. The rollout reached users of HSBC’s consumer digital platforms, targeting individuals who regularly use the bank’s mobile and online banking services.
