Hong Kong has officially issued its first stablecoin issuer licenses, with Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation (HSBC) receiving approval under a new regulatory framework from the Hong Kong Monetary Authority (HKMA).
Anchorpoint Financial is a joint venture involving Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications. HSBC’s Hong Kong-based entity, one of the city’s note-issuing banks, also secured a license.
This marks a cautious beginning for Hong Kong’s stablecoin regime, which officially took effect in August 2025. The framework requires fiat-referenced stablecoin issuers to obtain a license from the HKMA and adhere to strict rules on reserves, redemption, local presence, and anti-money laundering controls. The regulator also possesses enforcement powers for violations.
The approvals follow a missed March timeline for initial license awards, with HKMA Chief Executive Eddie Yue having previously indicated only a small number of issuers would be approved in the first batch.