Hong Kong grants first stablecoin licenses to Anchorpoint and HSBC

Hong Kong has issued its first stablecoin licenses, approving Anchorpoint Financial and HSBC’s Hong Kong banking arm under the HKMA’s new regime.

Update April 10, 2026, 10 am UTC: This article has been updated to add more details from the announcement.

Hong Kong has granted its first stablecoin issuer licenses, approving Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation under a new regulatory framework overseen by the Hong Kong Monetary Authority (HKMA). 

The HKMA announced the initial batch of licensees on Friday, marking the first approvals under its stablecoin regime. 

Anchorpoint Financial is the stablecoin joint venture formed by Standard Chartered Bank (Hong Kong), Animoca Brands and Hong Kong Telecommunications. The Hongkong and Shanghai Banking Corporation Limited is HSBC’s Hong Kong-based banking entity and one of the city’s three note-issuing banks.

The first approvals highlight Hong Kong’s cautious approach, with regulators appearing to favor bank-linked and institution-backed issuers in the regime’s opening phase.

The announcement comes after weeks of unconfirmed reports about potential licensees and a missed March timeline, marking a cautious start to Hong Kong’s stablecoin licensing rollout. HKMA Chief Executive Eddie Yue said in February that a very small number of issuers would be licensed in March, a timetable the HKMA ultimately missed before granting the first approvals.

Hong Kong’s stablecoin regime took effect on Aug. 1, 2025, and requires issuers of fiat-referenced stablecoins to obtain an HKMA license and meet rules covering reserve backing, redemption, governance and Anti-Money Laundering controls.

The stablecoin regime also gives the HKMA power to investigate violations and take enforcement action, including fines, suspensions and license revocations.

Yue said the new regime gives stablecoin issuers a regulated framework to operate in Hong Kong while requiring safeguards around user protection and risk management.

The licensed issuers are expected to launch their operations in the coming months, according to the HKMA.

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On April 1, the HKMA said it was actively advancing the licensing process after missing its earlier March timeline.

Earlier media reports also pointed to possible frontrunners. On March 13, HSBC and a Standard Chartered-backed venture were tipped as likely recipients, but the regulator had not confirmed any names at the time. 

Cointelegraph reached out to the HKMA for more information, but had not received a response by publication. 

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Source: CoinTelegraph