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Hong Kong, April 10, 2026.
The Hong Kong Monetary Authority (HKMA) today issued the city’s inaugural stablecoin issuer licenses under the Stablecoins Ordinance, a major regulatory milestone that strengthens Hong Kong’s position as a global digital asset hub.
Key Takeaways
- First licenses issued: HKMA granted inaugural approvals to HSBC and Anchorpoint Financial Limited under the Stablecoins Ordinance.
- HKD-backed focus: Licensees will issue stablecoins pegged to the Hong Kong dollar for regulated, high-trust applications.
- Launch timeline: Operations expected to begin in the coming months, with full rollouts in mid-to-late 2026.
The licenses were awarded to The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Anchorpoint Financial Limited, a joint venture formed by Standard Chartered Bank (Hong Kong) Limited, Animoca Brands, and Hong Kong Telecommunications (HKT).
The approvals, effective immediately, follow a rigorous review of 36 applications and come eight months after the ordinance took effect on August 1, 2025.
Both licensees plan to issue HKD-referenced (HKD-pegged) stablecoins. HSBC intends to launch its offering in the second half of 2026, while Anchorpoint Financial expects phased issuance beginning in Q2 2026.
The entities will complete preparatory work and launch operations in the coming months, according to their submitted business plans.
The new stablecoins are designed for practical, real-world applications, including domestic and cross-border payments, tokenized asset trading and settlement, real-world asset (RWA) integration, and supply chain finance.
Their programmability will enable more efficient conditional payments and streamlined financial processes, bridging traditional finance with blockchain technology.
HKMA officials emphasized that the selective approvals prioritize institutions with strong risk management, robust reserves, and clear use cases to ensure stability and investor protection.
The ordinance imposes strict requirements on reserve assets, governance, anti-money laundering (AML) compliance, and know-your-customer (KYC) procedures, with transfers restricted to verified wallets.
This development aligns with Hong Kong’s broader strategy to foster innovation while maintaining financial stability in the rapidly evolving crypto sector.
Conclusion
The HKMA’s decision to grant the first stablecoin issuer licenses marks a pivotal step in Hong Kong’s digital finance journey.
By enabling licensed, HKD-backed stablecoins from trusted institutions like HSBC and Anchorpoint Financial, the city is creating a secure pathway for innovation that integrates traditional banking with Web3 technologies.
This milestone not only addresses real-world pain points in payments and asset management but also signals confidence in a sustainable, regulated stablecoin ecosystem.
As launches approach, the move is expected to attract further institutional investment and solidify Hong Kong’s competitive edge in the global digital asset landscape.
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FAQs:
1. Who received the first HKMA stablecoin issuer licenses?
HSBC and Anchorpoint Financial Limited (a joint venture backed by Standard Chartered Bank (Hong Kong), Animoca Brands, and HKT) received the inaugural licenses announced on April 10, 2026.
2. What is the Stablecoins Ordinance in Hong Kong?
It is a comprehensive regulatory framework that took effect on August 1, 2025, requiring licenses for issuers of fiat-referenced stablecoins to ensure reserve backing, risk management, and consumer protection.
3. What will the new HKD stablecoins be used for?
They target practical applications such as cross-border and domestic payments, tokenized asset settlement, real-world asset trading, and supply chain finance through programmable features.
4. When will the licensed stablecoins launch?
Licensees plan to complete preparations and begin operations in the coming months, with HSBC targeting the second half of 2026 and Anchorpoint expecting phased rollout from Q2 2026.
5. Why is this important for Hong Kong’s crypto sector?
It establishes a clear, regulated framework that balances innovation with stability, helping position Hong Kong as a leading international digital asset hub while building trust among institutions and investors.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
