Hong Kong regulator approves inaugural stablecoin issuers — HSBC Hong Kong and Standard Chartered-backed Anchorpoint

The Hong Kong Monetary Authority (HKMA) announced licences for two stablecoin issuers: HSBC’s Hong Kong banking arm and Anchorpoint Financial, a consortium backed by Standard Chartered, marking the first approvals under the city’s new regime for stablecoins ^{[1] [2] [3]}.

The licences were awarded under the Stablecoins Ordinance, which took effect in August 2025, and represent the first batch of approvals since the law’s commencement, according to reporting on the HKMA’s announcement ^[3].

HKMA deputy chief executive Darryl Chan said the successful applicants bring traditional financial and risk-management experience that aligns with the objective of stablecoins to bridge traditional finance and digital finance, a rationale cited by regulators and industry coverage of the approvals ^{[4] [5]}.

Observers and media coverage framed the licences as a significant step toward a regulated stablecoin market in Hong Kong and as strengthening the linkage between established banks and digital payments infrastructure ^{[2] [1] [5]}.

The HKMA’s decision to licence HSBC and Anchorpoint under the Stablecoins Ordinance initiates the practical rollout of regulated stablecoin issuance in Hong Kong and sets a precedent for future applicants under the new framework ^{[3] [1]}.