HSBC and Anchorpoint Financial gain first Hong Kong stablecoin issuer licenses
The Block
The Hong Kong Monetary Authority has granted the region's inaugural stablecoin issuer licenses to HSBC and Anchorpoint Financial.Summary
The Hong Kong Monetary Authority (HKMA) has officially issued its first stablecoin licenses to The Hongkong and Shanghai Banking Corporation Limited and Anchorpoint Financial Limited, a joint venture involving Standard Chartered, Animoca Brands, and Hong Kong Telecommunications. This move follows a period of rigorous regulatory refinement regarding reserve disclosures and risk management. The HKMA intends to prioritize note-issuing banks, while the new framework aims to establish Hong Kong as a regulated global hub for digital assets, with the licensed entities expected to launch operations in the coming months.
(Source：The Block)