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<h3 id="h-key-insights" class="wp-block-heading"><strong>Key Insights:</strong></h3>
<ul>
 <li>The planned HKDAP rollout in Solana news covers native issuance and redemption.</li>
 <li>Anchorpoint’s FRS01 license requires full backing and redemption.</li>
 <li>The $14.13B stablecoin total in Solana news represented 75% of tracked assets.</li>
</ul>
<p>Solana news reported a Hong Kong stablecoin agreement between the Solana Foundation and Standard Chartered-backed Anchorpoint Financial. The partners signed a memorandum of understanding covering native issuance and redemption of HKDAP on Solana.</p>
<p>According to the <a href="https://x.com/WallStreetXHQ/status/2116852083223650546?a=9l9rJEwOKtyh5ppsjlM&amp;s=20" rel="noopener noreferrer nofollow">report</a>, the Hong Kong dollar-backed stablecoin would support retail payments and settlement for tokenized assets. The arrangement also targets financial products denominated in Hong Kong dollars.</p>
<h2 id="h-solana-news-details-standard-chartered-backed-hkdap-deal" class="wp-block-heading"><strong>Solana News Details Standard Chartered-Backed HKDAP Deal</strong></h2>
<p>Under the plan in the Solana news, eligible participants would create HKDAP directly on Solana and redeem the token through the network.</p>
<p>Anchorpoint expects near-instant settlement to support payments requiring frequent transfers. The company plans to use Solana’s existing wallets, applications, and developer network to reach customers.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img width="1024" height="903" src="https://www.thecoinrepublic.com/wp-content/uploads/2026/11/12336593ed4fe81b633b577539d83e8b622b9d7626e12b3cfe4da35f833e9a83-1-1024x903.png" alt="Solana’s Growth in Hong Kong’s Stablecoin Sector | Source: X">
  <figcaption>
   Solana’s Growth in Hong Kong’s Stablecoin Sector | Source: X
  </figcaption>
 </figure>
</div>
<p>Both organizations will work with corporate partners and consumer applications to provide access to HKDAP.</p>
<p>They also plan to make related financial products using the stablecoin available through these channels. The collaboration targets both everyday retail transactions and international access to Hong Kong dollar financial services.</p>
<p>Lu Yin, the foundation’s APAC head, said existing consumer applications could make Hong Kong dollar digital money more accessible.</p>
<p>He linked the proposed expansion to Solana’s settlement capabilities and international network of developers and wallet providers. The Solana news announcement also cited about $4.9 billion in tokenized real-world assets and more than 835,000 holders on Solana.</p>
<h2 id="h-hong-kong-s-stablecoin-rules-set-the-terms-for-hkdap" class="wp-block-heading"><strong>Hong Kong’s Stablecoin Rules Set the Terms for HKDAP</strong></h2>
<p>Based on developments around Solana news, Anchorpoint is a partnership between Standard Chartered Bank (Hong Kong) Limited, the telecom operator company HKT, and Animoca Brands.</p>
<p>It has obtained the Hong Kong Monetary Authority’s FRS01 license for stablecoin issuance in Hong Kong. The license means that the token falls under the Stablecoins Ordinance in Hong Kong, which was enforced on 1 August 2025.</p>
<p>The regulatory framework requires that the tokens be fully backed by high-quality and highly liquid reserve assets. HKDAP is pegged to the Hong Kong dollar, which fluctuates within 7.75- 7.85 against the US dollar.</p>
<p>Hong Kong’s licensing system contrasts with mainland China’s ban on <a href="https://www.thecoinrepublic.com/2024/12/20/solana-crypto-transactions-surge-to-67mn-could-this-mark-demand-resurgence/" rel="noopener noreferrer nofollow">crypto transactions</a>. Mainland authorities continue testing the digital yuan through state-controlled pilot programs.</p>
<p>Anchorpoint’s deal falls under Hong Kong’s rules for privately issued stablecoins. These rules govern the proposed issuance, reserve backing, and redemption of HKDAP on Solana.</p>
<p>The Solana Foundation has also joined Hong Kong’s OASES government program and plans to establish a local office. It will join Anchorpoint’s Tokenized Money Adoption Program as a strategic partner alongside PwC. The program brings industry participants together to support regulated stablecoins and tokenization in Hong Kong.</p>
<h2 id="h-solana-s-payment-plans-expand-while-sol-price-trades-lower" class="wp-block-heading"><strong>Solana’s Payment Plans Expand While SOL Price Trades Lower</strong></h2>
<p>The <a href="https://www.thecoinrepublic.com/2026/07/02/solana-crypto-network-takes-solid-tokenization-lead-with-96-market-share/" rel="noopener noreferrer nofollow">Solana crypto network</a> held $14.13 billion in stablecoins on October 30, according to RWA.xyz. That represented about 75% of the platform’s $18.89 billion total, including tokenized assets. The network’s monthly stablecoin transfers reached $370.94 billion across 13.56 million addresses.</p>
<p>The network’s payment initiatives also include Samsung Wallet’s planned USDC transfer service for eligible Galaxy users in the United States.</p>
<p>Samsung previously announced plans to offer the service across 82 million devices, with Solana and Sui providing blockchain support. Users would send USDC to compatible cryptocurrency wallets and qualifying overseas bank accounts.</p>
<p>Despite Solana news updates, the SOL price declined 1.14% over the past 24 hours, currently trading at $94.81. The daily trading volume reached about $1.28 billion, while Solana’s market capitalization stood at $55.95 billion.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2026/11/02/solana-news-standard-chartered-backed-stablecoin-deal-marks-hong-kong-expansion/" rel="noopener noreferrer nofollow">Solana News: Standard Chartered-Backed Stablecoin Deal Marks Hong Kong Expansion</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Solana News: Standard Chartered-Backed Stablecoin Deal Marks Hong Kong Expansion

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