HKDAP Completes Full Mint-Transfer-Redemption Trial on Ethereum Mainnet

On 22 May 2026 Hong Kong’s HKDAP stablecoin completed a successful mint-transfer-redemption trial on the Ethereum mainnet. The test, led by HKMA-licensed Anchorpoint Financial with Standard Chartered, OSL Group and PantherTrade, confirmed all tokens were fully asset-backed and redeemable. It followed the live mainnet transfer executed the previous day by Anchorpoint, OSL and PantherTrade on production-grade infrastructure rather than in a sandbox. Regulators and participants now target phased public issuance by end-Q2 2026, positioning the HKD-pegged token as a compliant regional settlement layer that could draw onshore liquidity and lift institutional activity on Ethereum.