Hong Kong awarded on Friday its first two stablecoin issuer licenses to HSBC and Anchorpoint Financial, a consortium led by Standard Chartered that also includes Animoca Brands.
The approvals, issued by the Hong Kong Monetary Authority, represent the first set of licenses granted under the Stablecoins Ordinance, which came into force in August 2025.
The licenses take effect today.
“The granting of stablecoin issuer licenses is an important milestone for the development of digital assets in Hong Kong. The regulatory regime provides an orderly operating environment for stablecoin issuers to apply innovative technologies while ensuring robust user protection and effective risk management, which will foster the development of a healthy, responsible, and sustainable stablecoin ecosystem,” said Mr Eddie Yue, Chief Executive of the HKMA.
“We look forward to the issuers launching business according to their plans, exploring growth opportunities while properly managing risks. We hope their promotion of regulated stablecoins will address pain points in financial and economic activities, create value for both individuals and businesses, and support the healthy development of digital assets in Hong Kong,” he added.
The Hong Kong Monetary Authority reviewed 36 applications and indicated that the first round of approvals would be selective.
In his February budget speech, Financial Secretary Paul Chan said only “a small number” of licenses would be granted, with the regulator placing priority on risk management, reserve quality and anti-money-laundering safeguards.
