CoinDesk experiences:
Though mainland China continues to strictly prohibit cryptocurrency buying and selling, the U.S.-based Solana Basis has taken a important step in the area by signing a strategic settlement with Hong Kong-based licensed issuer Anchorpoint Monetary Restricted.
This partnership will launch the HKDAP stablecoin for retail funds and tokenized belongings. It additionally marks the undertaking’s first direct collaboration with a public blockchain fund.
HKD to Solana: Key Knowledge and Details
The issuer, Anchorpoint, is a consortium comprising Commonplace Chartered Financial institution (Hong Kong), telecommunications supplier HKT, and Animoca Manufacturers, and has been granted the FRS01 license by the Hong Kong Financial Authority (HKMA).
After integrating with Solana, this asset allows prompt issuance and redemption, opening a compliant banking channel for retail use instances and real-world asset (RWA) buying and selling.
This partnership is constructed upon Hong Kong’s Stablecoin Ordinance, which got here into impact on August 1, 2025: any issuer of fiat-backed stablecoins should maintain a license from the Hong Kong Financial Authority, preserve totally backed reserves of high-quality liquid belongings, and redeem tokens at par worth.
Since the Hong Kong greenback maintains a linked change fee vary of seven.75 to 7.85 towards the US greenback, HKDAP successfully capabilities as one other instrument pegged to the US greenback, however its issuance happens in an impartial jurisdiction outdoors the direct regulatory oversight of the United States.
Studies point out that Solana’s infrastructure is already ready for this. In accordance to information from rwa.xyz as of October 30, 2026, the complete worth of RWAs on the Solana platform quantities to $18.89 billion, with $14.13 billion (roughly 75%) consisting of stablecoins; month-to-month transaction quantity reaches $370.94 billion throughout 13.56 million addresses.
To strengthen its place, the Solana Basis is becoming a member of the Hong Kong authorities’s OASES initiative, establishing a native workplace, and launching the TAP tokenization undertaking in partnership with PwC.
The report means that this infrastructure supplies a compliant pathway for institutional capital. In the meantime, mainland China is just testing the digital yuan in state-controlled pilot areas, whereas Hong Kong presents non-public enterprises a clearer regulatory framework.
Subsequently, Commonplace Chartered Financial institution and its partners will acquire a totally compliant settlement software, and worldwide markets will acquire direct entry to Hong Kong greenback liquidity by means of the Solana blockchain.
