Key Points
- The HKMA granted Hong Kong’s inaugural stablecoin licenses to HSBC and Anchorpoint Financial on April 10.
- Standard Chartered, Animoca Brands, and HKT support Anchorpoint Financial as joint venture partners.
- Both companies now appear on the official Stablecoins Ordinance register maintained by the HKMA.
- The monetary authority has received 36 applications for stablecoin licenses under the regulatory framework.
- The newly authorized firms intend to commence stablecoin operations within the next few months.
In a historic development for Hong Kong’s digital finance sector, HSBC and Anchorpoint Financial have secured the city’s first stablecoin issuer licenses. This regulatory milestone represents a significant advancement in Hong Kong’s cryptocurrency governance framework. The Hong Kong Monetary Authority announced the licensing decisions on April 10. Both organizations have been officially registered under the Stablecoins Ordinance. The development positions HSBC and Anchorpoint as pioneering entities in Hong Kong’s regulated stablecoin ecosystem.
First stablecoin licenses approved by Hong Kong authorities
The Hong Kong Monetary Authority has granted stablecoin issuer licenses to HSBC and Anchorpoint Financial, marking the first approvals under the new regulatory regime. The authority made the announcement on Friday. Both licenses became effective April 10.
The regulatory register now includes The Hongkong and Shanghai Banking Corporation Limited alongside Anchorpoint Financial Limited. Anchorpoint Financial operates as a collaborative venture between Standard Chartered, Animoca Brands, and HKT.
INTEL: Hong Kong grants first stablecoin issuer licenses to HSBC and a Standard Chartered led joint venture with Animoca Brands and HKT pic.twitter.com/kfvOyokD64
— Solid Intel 📡 (@solidintel_x) April 10, 2026
The HKMA had initially projected first-quarter approvals for the inaugural licenses. However, this timeline extended as regulators requested applicants enhance various components of their submissions.
Specific requirements included comprehensive reserve asset documentation and robust anti-money laundering frameworks. The monetary authority additionally examined redemption mechanisms and stress assessment protocols. Following these refinements, HSBC and Anchorpoint emerged as the first successful license recipients.
Regulatory authority explains approval rationale
The stablecoin licensing framework became operational in August 2025. Under this regulatory structure, all entities seeking to issue stablecoins within Hong Kong must obtain proper licensing. This framework forms a critical component of the city’s comprehensive digital asset strategy.
Eddie Yue, Chief Executive of the HKMA, described the licensing approvals as a pivotal achievement. He stated, “The granting of stablecoin issuer licences is an important milestone for the development of digital assets in Hong Kong.” He emphasized the regime’s dual focus on fostering innovation while protecting users.
Yue further explained that the regulatory framework establishes a structured operational environment for licensed issuers. He noted it enables comprehensive risk management capabilities. The authority aims to cultivate a sustainable and accountable stablecoin marketplace.
He indicated that the newly licensed companies are now preparing for market entry. The HKMA reports both issuers anticipate launching their stablecoin services within the coming months. The regulator expects adherence to their proposed business strategies.
Additional applications pending under Hong Kong’s licensing system
During February statements, Yue revealed the HKMA had processed 36 applications within the stablecoin licensing framework. This substantial volume demonstrates significant market interest in the regulatory program. It also reflects the growing momentum within Hong Kong’s digital asset sector.
Both HSBC and Standard Chartered maintain note-issuing bank status in Hong Kong. The HKMA previously indicated preference for this category when evaluating stablecoin license applications. This positioning gave them advantageous standing under the new regulatory parameters.
Another cohort of applicants continues progressing through the approval process. Caixin reported last month that organizations including Futu Securities and OSL Group may receive approvals in subsequent licensing rounds. OSL Group currently operates under a cryptocurrency exchange license in Hong Kong.
Hong Kong has systematically developed its cryptocurrency regulatory framework since 2022. The jurisdiction implemented exchange licensing requirements before subsequently establishing stablecoin regulations. A supervised stablecoin sandbox program launched in 2024 to facilitate controlled testing.
Yue commented, “We look forward to the issuers launching business according to their plans, exploring growth opportunities while properly managing risks.” He emphasized that licensed stablecoins should address practical challenges within financial and commercial sectors. Currently, HSBC and Anchorpoint Financial stand as Hong Kong’s inaugural license holders, spearheading the territory’s progression toward regulated stablecoin markets.
