Standard Chartered Bank (Hong Kong) Limited (SCBHK) said it is the first bank to become an authorized distributor of HKDAP (HKD At Par), the first regulated Hong Kong dollar stablecoin. SCBHK will issue HKDAP to eligible clients and partners. HKDAP is issued by Anchorpoint, a Standard Chartered majority-owned joint venture that holds one of Hong Kong's first two stablecoin licenses. The Standard Chartered group reports assets of about USD 850 billion.