Anchor Financial, which has obtained a stablecoin issuer license from the Hong Kong Monetary Authority (HKMA), announced that it has successfully completed transfer tests for the Hong Kong dollar stablecoin **HKDAP (HKD At Par)** on the Ethereum mainnet, in partnership with OSL Group (00863) and Cheetah Trade, a licensed trading platform under Futu Holdings.

The tests covered the conversion of fiat Hong Kong dollar funds into reserve assets. Standard Chartered Hong Kong provided infrastructure and institutional trust services to ensure full backing, and all test tokens were fully redeemed upon completion. Authorities revealed that HKDAP is scheduled for phased official issuance by the end of the second quarter of this year.