HSBC and Standard Chartered Just Made Hong Kong’s First Stablecoin History

by

HSBC and Standard Chartered Venture secure Hong Kong’s first stablecoin licenses

HSBC and Anchorpoint Financial, which is supported by Standard Chartered, have become the first companies to receive licenses to issue stablecoins in Hong Kong.

Summary

  • The Hong Kong Monetary Authority has granted the first stablecoin issuer licenses to HSBC and the Standard Chartered-backed venture Anchorpoint Financial.
  • These initial approvals follow several months of delays after the regulator missed its original target to begin the licensing process in March.

On Friday, Hong Kong’s financial regulator, the HKMA, announced who had been approved to operate with digital assets, marking a significant step forward for the industry in the region.

As I’ve reviewed the approved firms, HSBC stands out as a major player – they’re a leading bank when it comes to issuing local currency. Another interesting one is Anchorpoint Financial; it’s a joint venture backed by some well-known names – Standard Chartered, Animoca Brands, and Hong Kong Telecommunications are all involved.

Oversight and  enforcement standards 

These approvals mark the first participants to be licensed under a new system that began on August 1, 2025.

Under the new rules, companies issuing stablecoins in Hong Kong need to get a license from the HKMA. To qualify, they must meet requirements related to holding enough reserves and ensuring users can always redeem their stablecoins for the underlying assets. They also need to follow strong governance practices and anti-money laundering procedures to maintain their license.

The new law gives the regulator power to investigate and oversee the industry. They can impose fines, temporarily halt operations, or even revoke licenses if companies don’t follow the rules.

As an analyst, I’ve been tracking the recent rollout, and it’s important to note it comes after some administrative hurdles caused the regulator to fall behind schedule this year. Back in February, HKMA CEO Eddie Yue anticipated licensing a limited number of issuers by March, but that timeline wasn’t met.

Although the initial deadline came and went without any news, the regulator announced on April 1st that they were still working to approve the first group of applications.

Experts had predicted this result after reports in mid-March indicated that HSBC and Standard Chartered’s joint venture were the frontrunners to receive the licenses.

Read More

2026-04-10 13:38