Solana Foundation Targets Hong Kong Banks to Scale Stablecoin Rails
Key Summary
Solana Foundation signed a strategic agreement with Hong Kong-licensed issuer Anchorpoint Financial to launch the HKDAP stablecoin for retail payments and tokenized assets. The issuer operates under an HKMA license backed by Standard Chartered Bank, HKT, and Animoca Brands. The infrastructure targets Solana's $14.13B stablecoin market, connecting traditional banking reserves directly to high-throughput decentralized ledgers.
Key Bullets
- Solana Foundation inked a strategic partnership with Anchorpoint Financial to deploy the HKDAP stablecoin across licensed Hong Kong banking networks.
- Data tracked by rwa.xyz shows Solana hosts $18.89B in total RWA volume, with $14.13B concentrated in stablecoin pools.
- Monthly transfer volumes across the network reached $370.94B spanning 13.56 million active addresses according to on-chain metrics.
- Standard Chartered and Animoca Brands backed the issuer under the Hong Kong Monetary Authority FRS01 regulatory framework.
Solana Foundation Secures Hong Kong Banking Partnership
Solana Foundation forged an official agreement with Hong Kong-licensed issuer Anchorpoint Financial to introduce the HKDAP stablecoin for retail payments and tokenized assets. Public on-chain records confirm Anchorpoint operates as a banking consortium involving Standard Chartered Bank, telecom provider HKT, and Animoca Brands. The issuer secured an FRS01 license directly from the Hong Kong Monetary Authority. Liquidity vanished from competing networks as capital chased the newly minted legal gateway.
Integration with Solana infrastructure delivers instant issuance and redemption mechanics for the fiat-referenced instrument. The rollout aligns with Hong Kong regulatory mandates requiring complete backing by high-quality liquid reserves. Traders took immediate notice. Capital flows shifted toward the regulated Asian corridor.
On-Chain Metrics Reveal Massive Regional Stablecoin Volume
Data published by rwa. xyz indicates total RWA volume on Solana stands at $18.89B. Stablecoins account for $14.13B of that figure, representing roughly 75% of the total asset base. Monthly transfer volume across the network hit $370.94B. Exactly 13.56 million active addresses powered the transaction wave. The volume proved the network handles institutional throughput.
The Hong Kong dollar operates within a 7.75 to 7.85 band against the US dollar. HKDAP effectively functions as an offshore dollar-linked instrument outside direct domestic regulatory reach. Standard Chartered established a reliable settlement rail. The transfer metrics climbed higher.
Government Program OASES Welcomes New Blockchain Infrastructure
Solana Foundation joined the Hong Kong government development program OASES to open a regional office and deploy the TAP tokenization initiative alongside PwC. Mainland China maintains strict bans on domestic crypto transactions, but Hong Kong provides clear legal parameters for private business entities. The regulatory framework offers certainty.
Standard Chartered and associated partners secured a fully legitimate digital settlement mechanism. International market participants gained direct access to local liquidity pools without touching legacy wire networks. Institutional desks deployed capital quickly. The new market structure matured overnight.
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