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Solana partners with Hong Kong banks to launch $14B HKD stablecoin market gateway.

30 Oct 2026, 20:01 WIB
UToday
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Bullish
Solana partners with Hong Kong banks to launch $14B HKD stablecoin market gateway.

Solana Foundation has partnered with Anchorpoint Financial, a consortium including Standard Chartered Bank Hong Kong, to launch the HKDAP stablecoin on the Solana blockchain. This stablecoin is pegged to the Hong Kong dollar and complies with Hong Kong's Stablecoins Ordinance, providing a regulated gateway for retail payments and tokenized assets. The move allows Solana to tap into a $14 billion stablecoin market and offers a legal banking channel for real-world asset trading in Hong Kong, contrasting with mainland China's crypto ban. Solana is also expanding its presence by joining Hong Kong's government program OASES and collaborating with PwC on tokenization initiatives, positioning itself as a key player in the region's growing digital asset ecosystem.

Solana's market cap stands at Rp1.019,39 trillion as of Oct 31, 2026, 00:22 WIB, with a 24-hour trading volume of Rp118,67 trillion on Pluang. Despite the recent news of expanding its stablecoin presence in Hong Kong, SOL's price has dropped by 6.97% in the last day, trading at Rp1.721.981. The platform shows a balanced order activity with 52% Buy and 48% Sell, and typical hold time of 72 days, indicating steady investor engagement amid its strategic moves in the digital asset space.

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