The Hong Kong Monetary Authority (HKMA) granted the city's first stablecoin issuer licenses to HSBC and a joint venture involving Standard Chartered on Friday. This regulatory milestone supports Hong Kong's ambition to establish itself as a global digital asset hub.
The HKMA selected the note-issuing banks from a pool of 36 applicants. Standard Chartered’s joint venture, named Anchorpoint Financial, includes partners Animoca Brands and Hong Kong Telecommunications (HKT).
Both entities received authorization to issue stablecoins pegged to the Hong Kong dollar. HSBC plans to launch its HKD-denominated stablecoin in the second half of 2026.
High-quality liquid assets held in separate accounts will fully back the HSBC stablecoin.