Hong Kong has taken a major step in regulating digital assets after the Hong Kong Monetary Authority (HKMA) granted the city’s first stablecoin issuer licences under its newly introduced Stablecoins Ordinance.
The regulator announced on April 10 that licences have been issued to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited (HSBC). The approvals officially allow both entities to issue stablecoins within Hong Kong under the city’s emerging regulatory framework.
According to the HKMA, the licences took effect immediately upon announcement. However, both companies will need to complete operational preparations before launching their stablecoin services in the coming months.
Anchorpoint Financial is a stablecoin joint venture backed by Standard Chartered Bank (Hong Kong), blockchain investment firm Animoca Brands, and telecom operator Hong Kong Telecommunications. HSBC’s Hong Kong-based banking entity,
The Hongkong and Shanghai Banking Corporation Limited is also among the city’s three note-issuing banks.
HKMA Chief Executive Eddie Yue described the licensing milestone as a key development for Hong Kong’s digital asset ecosystem. He emphasized that the new regulatory regime aims to support financial innovation while ensuring strong consumer protection and risk management standards.
“The granting of stablecoin issuer licences is an important milestone for the development of digital assets in Hong Kong,” Yue said in a statement. He added that the framework is designed to provide an orderly operating environment where companies can apply innovative technologies while maintaining robust safeguards for users.
The HKMA also highlighted the potential for regulated stablecoins to address inefficiencies in financial and economic activities while supporting broader adoption of digital assets in the region.
To maintain transparency, the regulator has launched a public Register of Licensed Stablecoin Issuers on its website, listing approved entities and key information about their operations.
Authorities also warned the public to remain cautious of fraudulent schemes claiming association with licensed issuers. The HKMA urged users to verify information through official channels and only engage with regulated platforms when acquiring or using stablecoins.
