We propose a new approach for real-time implementation of the fast affine projection (FAP) algorithm. This is based on exploiting the recently introduced dichotomous coordinate descent (DCD) algorithm, which is especially efficient for solving systems of linear equations on real-time hardware and software platforms since it is free of multiplication and division. The numerical stability of the DCD algorithm allows the new combined DCD-FAP algorithm also to be stable. The convergence and complexity of the DCD-FAP algorithm is compared with that of the FAP, Gauss-Seidel FAP (GS-FAP), and modified GS-FAP algorithms in the application to acoustic echo cancellation. The DCD-FAP algorithm demonstrates a performance close to that of the FAP algorithm with ideal matrix inversion and the complexity smaller than that of the Gauss-Seidel FAP algorithms.