Hong Kong Issues First Stablecoin Licences to Anchorpoint Financial and HSBC Under New Regulatory Framework

Hong Kong has officially granted its first stablecoin issuer licences under a new regulatory regime overseen by the Hong Kong Monetary Authority. The initial approvals were awarded to Anchorpoint Financial and The Hongkong and Shanghai Banking Corporation Limited, marking a key milestone in the region’s digital asset oversight strategy.

Anchorpoint Financial is a joint venture formed by Standard Chartered Bank (Hong Kong), Animoca Brands, and Hong Kong Telecommunications. The HSBC linked entity is also one of the city’s three traditional note-issuing banks.

Stablecoin Compliance Rules and Regulatory Oversight

The stablecoin licensing regime took effect in August 2025 and requires issuers of fiat-referenced stablecoins to meet strict standards. These include maintaining full reserve backing, ensuring redemption rights for users, establishing a local presence, and complying with anti-money laundering controls. The regulator also has authority to investigate violations and impose enforcement actions such as fines, licence suspensions, or revocations.

Delays and Limited First Batch Approvals

The announcement follows earlier delays after authorities missed an expected March timeline for the first approvals. Officials had previously indicated that only a very small number of issuers would be selected in the initial round. The new licences confirm a cautious rollout approach as Hong Kong positions itself as a regulated hub for stablecoin innovation and broader digital finance development.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.