Anchorpoint and HSBC Receive Inaugural Stablecoin Licenses in Hong Kong
In a landmark move, Hong Kong's HKMA has granted its inaugural stablecoin issuer licenses to Anchorpoint Financial and HSBC's Hong Kong banking entity under its newly established regulatory framework.
The Hong Kong Monetary Authority (HKMA) has granted its inaugural licenses for stablecoin issuance, with Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation receiving approval under the territory's newly implemented regulatory structure.
On Friday, the HKMA made public its first round of approved licensees, representing the initial authorizations granted under its newly established stablecoin regulatory framework.
Anchorpoint Financial operates as a collaborative stablecoin venture established through a partnership between Standard Chartered Bank (Hong Kong), Animoca Brands and Hong Kong Telecommunications. Meanwhile, the Hongkong and Shanghai Banking Corporation Limited represents HSBC's Hong Kong-domiciled banking operation and stands as one of three institutions authorized to issue banknotes in the city.
This disclosure follows several weeks of speculation and unverified media reports regarding which entities might receive licensing approval, coupled with the regulator's failure to meet a previously announced March deadline, signaling a measured approach to Hong Kong's stablecoin licensing implementation.
Cointelegraph contacted the HKMA seeking additional details regarding the announcement, though no response had been received at the time of publication.
Hong Kong rolls out stablecoin regime after delays
The territory's regulatory framework for stablecoins became operational in August 2025, mandating that entities issuing fiat-referenced stablecoins secure licensing from the Hong Kong Monetary Authority while adhering to comprehensive requirements covering reserve asset backing, redemption mechanisms, local operational presence and anti-money laundering (AML) compliance measures.
The framework further empowers the regulatory authority to conduct investigations into regulatory breaches and pursue enforcement measures, which may include monetary penalties, operational suspensions and the revocation of licenses. According to previous statements from the HKMA, a six-month transitional period was established, commencing on Aug. 1, 2025.
These initial licensing approvals arrive following Hong Kong's inability to meet a previously established March deadline for issuing the authorizations. On Feb. 2, Eddie Yue, the Chief Executive of HKMA, indicated that only a "very small number" of applicants would receive approval during the initial licensing wave. According to a Reuters report, the regulatory body had committed to approving its first batch of licenses during March.
On April 1, the HKMA announced it was actively progressing with the licensing procedures following its failure to meet the previously communicated March timeline.
Media coverage in recent weeks had also suggested potential candidates for the first licenses. On March 13, both HSBC and a venture supported by Standard Chartered were identified as probable license recipients, though the regulatory authority declined to confirm these names at that juncture.