According to CoinMeta, Hong Kong's DockPoint Finance has officially launched the Hong Kong dollar stablecoin hkdap, becoming the first compliant Hong Kong dollar stablecoin to enter commercial operation after the implementation of Hong Kong's "Stablecoin Regulations." hkdap is pegged to the Hong Kong dollar at a 1:1 ratio, with reserves managed by Standard Chartered Bank. The initial phase of testing is being conducted through authorized distributors such as osl and hashkey for institutional use, focusing on cross-border payments, trade financing, and RWA settlements. The launch of hkdap marks the first time that Hong Kong has integrated bank-managed custody, licensed distribution, public chain settlement, and real economy scenarios into the same compliant network. However, its actual transaction volume, liquidity, and retail applications are still yet to be verified.