Digital asset platform OSL confirmed on August 12, 2026 that it is among the first authorised distributors participating in HKDAP Beta Access, marking the initial rollout phase of Anchorpoint's regulated Hong Kong dollar stablecoin. The launch advances Hong Kong's broader effort to position itself as a regulated digital asset hub, building on licensing frameworks already introduced for virtual asset exchanges and now extending to stablecoin issuers.

Beta Access Phase Targets Professional Investors

OSL announced on August 12, 2026 that it had become one of the first authorised distributors in HKDAP Beta Access, the launch phase described in the release as the stablecoin's initial introduction to market participants.

Rather than a broad retail launch, the rollout commences with Beta Access restricted to professional investors through OSL HK. The general public does not yet have access during this phase.

OSL HK, the named distributor for the initial rollout, will provide on- and off-ramp services, exchange functionality, trading, and settlement between fiat currency and HKDAP for qualifying investors.

Distribution Under Hong Kong's Licensing Framework

Anchorpoint serves as the licensed issuer behind HKDAP. Standard Chartered stated on April 10, 2026 that Anchorpoint was among the first two firms granted a stablecoin issuer licence by the Hong Kong Monetary Authority (HKMA), with HKDAP to be distributed through a B2B2C model utilizing authorised distributors, per the bank's statement.

The distributor model is integral to the product's design rather than a secondary consideration. HKDAP reaches end users through authorised intermediaries such as OSL, rather than being issued directly by Anchorpoint to individual holders.

The launch operates within Hong Kong's Stablecoins Ordinance, which took effect on August 1, 2025 and establishes the regulatory framework under which the HKMA licenses stablecoin issuers. The ordinance provides a defined compliance pathway for issuers operating in Hong Kong, contrasting with jurisdictions where stablecoin-specific rules remain under development. Digital-asset oversight across the region has tightened this year, following enforcement actions such as the CFTC's lawsuit against Goliath Ventures in other jurisdictions.

Priority Use Cases During Beta Access

OSL indicated that the first use cases it will prioritise during Beta Access are tokenised finance, trade finance, and cross-border payments, positioning these as the early deployment targets. The Hong Kong dollar is pegged to the US dollar at approximately 7.8 HKD per USD, meaning a HKD-denominated stablecoin tracks the dollar's value while serving payment and settlement needs within Hong Kong's financial infrastructure specifically.

The Block reported that Anchorpoint's initial focus includes cross-border payments along with the settlement and distribution of tokenized real-world assets, aligning with the deployment goals articulated by OSL. These remain stated objectives rather than demonstrated adoption at scale.

The rollout builds upon prior technical groundwork. On May 13, 2026, OSL and Anchorpoint announced the completion of HKDAP test transfers on the Ethereum mainnet, covering fiat funding into reserve assets, minting, transfers, and full redemption, according to OSL.

Separately, HashKey Exchange joined the rollout as a distribution partner and completed its first HKDAP minting and redemption transaction, according to reports from The Block citing a HashKey statement that has not been independently verified. The Block also reported, on a single-source basis, that the HKMA received 36 applications before granting licences to Anchorpoint and one other issuer.

HKDAP Enters a Dollar-Dominated Stablecoin Market

HKDAP is not yet publicly listed on market tracking platforms, so its scale can only be assessed against established benchmarks. Tether, the largest stablecoin by market capitalisation, stood at approximately $183.03 billion with roughly $35.6 billion in 24-hour trading volume, according to CoinGecko, underscoring the dominance of dollar-pegged tokens in the sector that this Hong Kong dollar stablecoin is now entering.

With 36 applications submitted to the HKMA and only two licences granted, additional licensing decisions remain pending. The current Beta Access restriction to professional investors also leaves broader market availability, including potential retail access, for a later phase that has not been detailed.

The broader market context remains cautious as the rollout begins. The Crypto Fear & Greed Index registered at 27, classified as "Fear," indicating a subdued market backdrop for new product launches.