Hong Kong’s First Regulated HKD Stablecoin Completes Full Lifecycle Test on Ethereum Mainnet

OSL Group and Anchorpoint Financial completed end-to-end transfer testing for HKDAP, a regulated Hong Kong dollar stablecoin, on Ethereum mainnet. The test was announced on May 14, 2026.

HKDAP stands for HKD At Par. Anchorpoint is one of the first licensed stablecoin issuers under Hong Kong’s new framework.

The workflow covered HKD fiat funding, reserve backing, minting, on-chain transfer, and full redemption. Standard Chartered provided the banking infrastructure behind the test.

OSL Group and Anchorpoint have completed test transfers of HKDAP, the first regulated Hong Kong Dollar-backed stablecoin, on Ethereum Mainnet.

The test covered HKD fiat funding, reserve backing, minting, transfer, and full redemption, supported by @StanChart’s banking… pic.twitter.com/d6sZ8oFBXr

— OSL (@osldotcom) May 13, 2026

That is the full mint-to-redeem cycle running on a public chain with a licensed issuer and a regulated exchange on either end. For institutions evaluating stablecoin rails in Asia, that sequence is the baseline requirement.

OSL Group framed the test as a turning point for Hong Kong’s stablecoin ecosystem:

According to OSL Group: OSL Group said it completed an end-to-end transfer test for HKDAP, a regulated HKD stablecoin, on Ethereum mainnet in collaboration with Anchorpoint Financial, one of the first licensed stablecoin issuers in Hong Kong. The announcement says the work marks a transition for Hong Kong’s regulated stablecoin ecosystem from policy design into practical implementation.

OSL frames HKDAP as a stable HKD-denominated instrument for digital bonds, tokenized funds, real estate interests, compliant digital asset payments, and trading workflows. OSL Group announced the HKDAP test on May 14, 2026.

OSL Group and Anchorpoint completed end-to-end transfer testing for HKDAP on Ethereum mainnet. HKDAP stands for HKD At Par and is a Hong Kong dollar stablecoin.

Anchorpoint is described as one of the first licensed stablecoin issuers in Hong Kong. OSL says the test covered HKD fiat funding, reserve backing, minting, transfer, and full redemption.

OSL’s X post said the workflow was supported by Standard Chartered’s banking infrastructure. The announcement frames the test as a step from policy design to practical implementation for Hong Kong’s regulated stablecoin ecosystem.

The source headline for this item was OSL Group and Anchorpoint Complete On-Chain Testing for Regulated HKD Stablecoin HKDAP.

OSL listed target use cases including digital bonds, tokenized funds, real estate interests, compliant digital asset payments, and trading workflows. Each of those depends on a fiat-backed token that can be minted and redeemed reliably under a regulated issuer.

Fintech News Hong Kong confirmed the test and added timing context:

According to Fintech News Hong Kong: Fintech News Hong Kong reported that OSL and Anchorpoint completed HKDAP stablecoin test transfers on Ethereum mainnet ahead of a planned Q2 launch. The article describes HKDAP as a regulated Hong Kong dollar-backed stablecoin and says the testing covered stablecoin transfer functionality as Hong Kong’s new stablecoin framework moves into implementation.

Anchorpoint is described as one of the first licensed stablecoin issuers in Hong Kong. OSL says the test covered HKD fiat funding, reserve backing, minting, transfer, and full redemption.

OSL’s X post said the workflow was supported by Standard Chartered’s banking infrastructure. The announcement frames the test as a step from policy design to practical implementation for Hong Kong’s regulated stablecoin ecosystem.

OSL Group announced the HKDAP test on May 14, 2026. OSL Group and Anchorpoint completed end-to-end transfer testing for HKDAP on Ethereum mainnet.

HKDAP stands for HKD At Par and is a Hong Kong dollar stablecoin. The source headline for this item was OSL and Anchorpoint Complete HKDAP Stablecoin Test Transfer.

The source was published on 2026-05-14, which keeps the article tied to the current announcement cycle rather than older market speculation.

A Q2 launch window means the live product could arrive within weeks.

OSL Group and Anchorpoint completed HKDAP test transfers on Ethereum Mainnet, marking a key step toward secure fiat-to-digital gateways and real-world regulated stablecoin use cases in Hong Kong.

As Kevin Cui, Executive Director and CEO of OSL Group, highlighted, this aligns… pic.twitter.com/9wOS3DAWpz

— OSL (@osldotcom) May 14, 2026

Ethereum continues to accumulate institutional settlement activity. Hong Kong’s stablecoin framework choosing Ethereum mainnet for its first regulated HKD token is a concrete data point for the network’s role in compliant finance across Asia.

The bigger picture is straightforward. Stablecoin regulation in Hong Kong spent the last year in licensing and policy drafts.

HKDAP running a full lifecycle test on mainnet, with a major bank’s infrastructure behind it, moves the conversation from paper frameworks to working rails.

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