Hong Kong grants first stablecoin licenses to Anchorpoint, HSBC
HKMA approved Anchorpoint Financial, a joint venture of Standard Chartered Bank (Hong Kong), Animoca Brands and HKT, and HSBC Hong Kong unit as the first licensed issuers under its fiat-referenced stablecoin regime.
On April 10, 2026 the Hong Kong Monetary Authority granted the first stablecoin issuer licenses under its fiat-referenced stablecoin regime to Anchorpoint Financial and The Hongkong and Shanghai Banking Corporation Limited.
Anchorpoint Financial is a joint venture backed by Standard Chartered Bank (Hong Kong), Animoca Brands and Hong Kong Telecommunications (HKT). The Hongkong and Shanghai Banking Corporation Limited is HSBC’s Hong Kong banking unit and one of the city’s three note-issuing banks. The HKMA published the names of the license holders in its public register.
The stablecoin regime took effect on Aug. 1, 2025. It requires issuers of fiat-referenced stablecoins to hold an HKMA license and to meet requirements on reserve backing, redemption mechanisms, governance standards and controls to prevent money laundering and terrorist financing. The HKMA said the newly licensed entities are expected to begin operations in the coming months.
In a statement HKMA Chief Executive Eddie Yue described the regime as giving stablecoin issuers a regulated framework to operate in Hong Kong while requiring safeguards around user protection and risk management: “The new regime gives stablecoin issuers a regulated framework to operate in Hong Kong while requiring safeguards around user protection and risk management.”
The regulator has the authority to investigate breaches and to impose enforcement measures, including fines, suspensions and license revocations.
The initial approvals went to bank-linked or institution-backed ventures. The HKMA had previously indicated that a very small number of issuers would be licensed in March, a target it did not meet. On April 1 the authority said it was actively advancing the licensing process and this week completed its first approvals after several weeks of market speculation.
The HKMA announcement did not include product launch dates or detailed commercial plans for Anchorpoint or HSBC’s stablecoin offerings. The license conditions and supervisory powers set out by the regulator require issuers to make clear how reserves and redemption arrangements will operate.
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