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Hong Kong regulator grants initial licenses for the launch of stablecoins., 2026/04/15 11:50:47
The Hong Kong Monetary Authority (HKMA) has granted the initial licenses for the launch of stablecoins to the international bank HSBC, headquartered in London, and to Anchorpoint Financial, a joint venture involving the British bank Standard Chartered, the Hong Kong telecommunications giant HKT, and Animoca Brands.
The licenses will take effect on April 10, 2026. Both entities have indicated that they will finalize preparations for the launch in the upcoming months. HKMA’s Chief Executive Eddie Yue stated that the licensing will foster innovation in Hong Kong while ensuring user protection.
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Anchorpoint Financial participated in the HKMA Stablecoin Issuer Sandbox in 2024 and began working on the issuance of stablecoins in 2023. HSBC plans to introduce a stablecoin pegged to the Hong Kong dollar in the latter half of 2026. It is expected to be fully backed by highly liquid assets held in separate accounts. Initially, the asset is intended for peer-to-peer payments, including transactions between users and merchants via HSBC HK and PayMe applications, as well as for tokenized investments.
The regulator issued licenses to HSBC and Anchorpoint Financial following the implementation of the regulatory framework for stablecoins on August 1, 2025. By the end of September last year, the HKMA had received 36 official applications for licenses allowing companies to launch stablecoins. Last year, the HKMA published guidelines for licensing stablecoin issuers, detailing requirements for capital, reserves, and risk management, mandating compliance with anti-money laundering (AML) regulations and the establishment of know-your-customer (KYC) procedures.
Licenses were granted after the regulatory framework for stablecoins came into effect on August 1, 2025. By the end of September, the HKMA had received 36 license applications. The regulator also published requirements regarding capital, reserves, and risk management, including mandatory adherence to anti-money laundering norms and customer identification procedures.
Previously, the HKMA cautioned that only a limited number of issuers meeting stringent requirements would receive licenses. From August 2025, promoting stablecoins without a license could result in a fine of up to 50,000 Hong Kong dollars (approximately $6,300) and imprisonment for up to six months.
