Hong Kong Issues First Stablecoin Licences to HSBC and Standard Chartered Venture

Highlights:

• Hong Kong gave its first stablecoin licences to Anchorpoint and HSBC on Friday.
• The move puts stablecoin issuers under a clear legal and regulated system.
• Officials said the new framework supports innovation, user safety, and better risk control.

Hong Kong has issued its first stablecoin issuer licences, taking a major step in its plan to build a regulated digital asset market. In a statement released on Friday, the Hong Kong Monetary Authority (HKMA) said it granted licences under the Stablecoins Ordinance to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited (HSBC). The approvals took effect on the same day.

Hong Kong Moves Stablecoin Rules Into Action

The approval is an important step because it shifts Hong Kong’s stablecoin rules from planning to reality. Stablecoins are digital tokens designed to maintain a steady value, typically linked to a fiat currency. Under the new regime, issuers must operate within a licensed system instead of existing in a legal grey area.

🚨JUST IN: HONG KONG ISSUES FIRST STABLECOIN LICENSES

Hong Kong has approved its first fiat backed stablecoin issuers, per Reuters.

The Hong Kong Monetary Authority has granted HSBC one of the city's first two stablecoin issuer licenses, allowing the banking giant to issue… pic.twitter.com/Jen86Ac38I

— BSCN (@BSCNews) April 10, 2026

Mr Eddie Yue, Chief Executive of the HKMA, said the approval of stablecoin issuer licences is an important milestone for the development of digital assets in Hong Kong. He said the new regulatory regime gives stablecoin issuers a clear and orderly environment to operate in and use innovative technology. At the same time, it keeps strong user protection and proper risk management in place. 

Eddie Yue added that this framework can help build a stablecoin ecosystem that is healthy, responsible, and sustainable. Yue also said the HKMA hopes the licensed issuers will launch their businesses according to plan, explore growth opportunities, and manage risks in a proper way.

“We hope their promotion of regulated stablecoins will address pain points in financial and economic activities, create values for both individuals and businesses, and support the healthy development of digital assets in Hong Kong,” he noted.

Businesses Could Launch in the Coming Months

According to the HKMA, both licensees plan to finish the final preparation work and launch their businesses in the coming few months. 

Reuters reported on Friday that Anchorpoint plans to work with selected business partners to make its stablecoin available to the public. HSBC also said its stablecoin will be offered through its PayMe and HSBC HK Mobile Banking apps. These early plans show that the first licensed stablecoins may focus on real payment use and everyday financial services, not just crypto trading.

The HKMA said it will issue more licences in the future. Deputy Chief Executive Daryl Ho said the HKMA would keep new approvals very limited. The regulator got 36 stablecoin license applications last year.

The Stablecoins Ordinance that has been issued in Hong Kong imposes stringent requirements on issuers. The issuer has to ensure that the token is fully backed, provides reports periodically, maintains proper security measures, and abides by the Anti-Money Laundering laws.

The HKMA also publishes a public list of licensed issuers so people can verify whether a stablecoin is authentic. This approach builds trust and reduces risks.

Hong Kong has announced that the Stablecoin Ordinance has come into effect and is currently processing license applications. The regulatory framework for virtual asset trading, custody, advisory, and management services will be submitted to the Legislative Council this year, and…

— Wu Blockchain (@WuBlockchain) January 30, 2026