HKMA grants Hong Kong's first stablecoin issuer licences to Anchorpoint and HSBC

Anchorpoint Financial/HKDAP (HKD At Par)

The Hong Kong Monetary Authority issued the first licences under its stablecoin regime to Anchorpoint and to HSBC's Hong Kong bank. Regulators chose bank-linked, institution-backed issuers for this first round, after missing their own March 2026 target, and expected both to start operating within months.

• Only two licences went out in the first round; the HKMA had received 36 applications.
• HSBC is one of Hong Kong's three note-issuing banks.
• The licensing regime took effect on 1 August 2025.