Hong Kong Warns of Fake ‘HKDAP’ and ‘HSBC’ Tokens

The Hong Kong Monetary Authority warned on April 28 that tokens trading under the tickers “HKDAP” and “HSBC” are not issued by licensed stablecoin firms. The authority said regulated stablecoin issuance has not yet begun in the city and that the tokens lack backing from any licensed issuer.

The HKMA advised consumers to rely only on official announcements and regulated distribution channels when assessing stablecoin claims. The authority noted that recognition of a bank name or a familiar ticker does not establish a product’s regulatory status or authenticity.

HSBC released a statement on April 28 saying it has not issued any stablecoins in Hong Kong. The bank plans to launch a Hong Kong-dollar stablecoin in the second half of 2026 after receiving a new license in April 2026. HSBC plans to offer the coin at launch only through PayMe and the HSBC HK Mobile App. The bank warned customers to be alert to scams, asked anyone concerned to contact its personal customer service hotline and to report suspected fraud to the police, and said it has no connection to any fraudulent stablecoins using its name.

Anchorpoint Financial Limited, which received a stablecoin issuer license on April 10, 2026, denied issuing any regulated stablecoins or other tokens under the name HKDAP. The firm clarified that since obtaining its license it has not officially released any regulated stablecoins, tokens or products labeled HKDAP.

Regulators have issued licenses to at least two firms this month, but the HKMA said no regulated stablecoins had been placed on the market as of April 28. The authority and the named firms urged market participants to verify issuance through licence holders’ official channels and to report suspicious tokens to authorities and to customer service hotlines for confirmation.