Solana Foundation Signs Strategic Agreement to Bring Anchorpoint's FRS01-Licensed HKDAP Stablecoin to Solana
Key Takeaways
- •HKDAP is a Hong Kong dollar-pegged stablecoin issued by Anchorpoint Financial Limited.
- •The agreement covers retail payments and tokenized assets on the Solana blockchain.
- •Hong Kong’s stablecoin rules require licensed issuers to maintain full reserves and support redemption at par.
- •The HKMA-regulated licensing regime took effect on August 1, 2025.
- •The Hong Kong dollar operates under a linked exchange-rate band of 7.75 to 7.85 per US dollar.
Solana Foundation Signs Strategic Agreement to Bring Anchorpoint's FRS01-Licensed HKDAP Stablecoin to Solana
The Solana 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.
The arrangement was announced on Friday and reported by COINOTAG on October 30, 2026. According to the report, the deal is described as the first of its kind.
HKDAP is a stablecoin pegged to the Hong Kong dollar and issued by Anchorpoint Financial Limited. The report identifies Anchorpoint as a Hong Kong-licensed stablecoin issuer, with its headline referencing the FRS01 license designation.
Background
Hong Kong established a dedicated licensing regime for fiat-referenced stablecoin issuers under the Stablecoins Ordinance, which took effect on August 1, 2025, with the Hong Kong Monetary Authority (HKMA) serving as the regulator. Under the regime, licensed issuers are required to maintain full reserve backing for tokens in circulation and to honor redemption at par. Because the report identifies Anchorpoint as a licensed issuer under this regime, HKDAP tokens circulating on Solana would fall under the same full-reserve and par-redemption requirements.
A stablecoin pegged to the Hong Kong dollar tracks a currency whose value has been managed against the US dollar since 1983 under the Linked Exchange Rate System, which keeps the exchange rate within a band of 7.75 to 7.85 Hong Kong dollars per US dollar. In effect, the currency behind HKDAP's peg is itself actively managed rather than free-floating.
Solana is a high-performance layer-1 blockchain known for low transaction fees and fast settlement, characteristics that have made it a common venue for payments applications and tokenized assets — the same two use cases the strategic agreement opens for HKDAP. The Solana Foundation is the organization that supports the development and ecosystem growth of the Solana network.
This article is based on a report first published by COINOTAG: Solana (SOL) to Power Anchorpoint's FRS01-Licensed HKDAP Stablecoin.
