Solana is set to add a regulated Hong Kong dollar stablecoin to its ecosystem through a memorandum of understanding between the Solana Foundation and Anchorpoint Financial. The agreement will bring HKDAP, a stablecoin backed by the Hong Kong dollar, to the network for native issuance and redemption, with the potential to broaden Solana's role in payments, cross-border settlements and tokenized financial assets.

Anchorpoint to Issue and Redeem HKDAP Natively on Solana

Under the agreement, HKDAP will be minted and redeemed directly on Solana, enabling near-instant settlement across supported applications. Anchorpoint described the collaboration as its first with a public blockchain network and said it is intended to extend the stablecoin's use beyond its existing distribution infrastructure. Potential applications include retail payments, institutional transfers and settlement for tokenized real-world assets.

The agreement does not mean HKDAP is already available on Solana. Anchorpoint's current FAQ identifies Ethereum as the supported network during its beta access phase, with additional blockchain support planned. The Solana integration will therefore represent a significant expansion once deployment and operational arrangements are completed.

Regulated Hong Kong Dollar Liquidity From a Standard Chartered Subsidiary

HKDAP is issued by Anchorpoint Financial, a subsidiary of Standard Chartered Bank (Hong Kong), under a stablecoin issuer licence from the Hong Kong Monetary Authority (HKMA). The token is designed to maintain a one-to-one peg with the Hong Kong dollar and is backed by reserve assets held for the benefit of holders. Anchorpoint describes it as a settlement instrument for payments and tokenized financial products rather than an investment or yield-bearing asset.

According to the issuer's transparency dashboard, approximately HK$16.1 million of HKDAP was in circulation against HK$17.2 million in reserves as of October 28, 2026, per the weekly reserve assets breakdown. Cumulative transaction volume stood at around HK$85.1 million. These figures indicate that HKDAP remains relatively early in its rollout, making the planned Solana integration an opportunity to expand distribution and activity rather than evidence of an already established large-scale stablecoin market.

Solana's Growing Stablecoin Footprint

The partnership arrives as Solana continues to attract stablecoin liquidity and payment integrations. DefiLlama data showed approximately $15.17 billion in stablecoins on the network as of October 30, 2026, although the total had declined around 3.19% over the previous seven days. USDC accounted for roughly $6.83 billion of that supply, highlighting the network's existing dependence on dollar-denominated stablecoin liquidity.

Adding HKDAP could diversify the currencies available for onchain payments and settlement. Because the network's stablecoin base is currently weighted toward dollar-denominated tokens, a Hong Kong dollar instrument would extend the range of settlement currencies available to applications. A Hong Kong dollar stablecoin may be particularly relevant to businesses handling transactions connected to Hong Kong and Asian markets, although actual demand will depend on merchant acceptance, exchange and wallet support, and access through authorised distributors.

Hong Kong's Regulatory Framework Underpins the Expansion

HKDAP's expansion is taking place under Hong Kong's Stablecoins Ordinance, which took effect on August 1, 2025 and established the HKMA's licensing and supervisory framework for fiat-referenced stablecoin issuers. Anchorpoint received its licence in April 2026 and operates through authorised distributors that conduct customer onboarding and compliance checks. This regulated structure could help institutions assess HKDAP for payments and tokenized asset settlement.

The memorandum also connects the Solana Foundation with Anchorpoint's Tokenised Money Adoption Programme, where it joins PwC as a strategic partner, as announced on X. Anchorpoint has additionally outlined plans for a Hong Kong presence and participation in the city's OASES initiative.

The next developments to watch are the Solana deployment timeline, authorised distribution arrangements and whether financial institutions begin using HKDAP for live transactions on the network. With circulation at roughly HK$16.1 million as of late October, those milestones would provide the clearest indication of whether the memorandum expands HKDAP's footprint beyond its early-stage rollout.