Analysis
Hong Kong Granted 2 Stablecoin Licences From 36 Applications
Anchorpoint and HSBC, what the HKMA said about the other applicants, and how to check an issuer.
The short version: the HKMA has licensed 2 stablecoin issuers: Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited, both effective 10 Apr 2026 (HKMA register, read 21 Oct 2026). The HKMA had received applications from 36 entities in the first batch. “Among the 36 applications, licences are granted to Anchorpoint and HSBC” (HKMA, 10 April 2026).
The Regime
Since 1 Aug 2025, under the Stablecoins Ordinance (Cap. 656), issuing fiat-referenced stablecoins is a regulated activity in Hong Kong and needs an HKMA licence (HKMA).
The Two Licensees
- Anchorpoint Financial Limited, licence FRS01. The HKMA describes it as “a joint venture of Standard Chartered Bank (Hong Kong) Limited, HKT Limited and Animoca Brands Limited”.
- The Hongkong and Shanghai Banking Corporation Limited, licence FRS02.
“In the initial phase, both licensed issuers plan to issue Hong Kong Dollar (HKD)-referenced stablecoins” (HKMA). When the licences were granted, the HKMA said the licensees intended “to complete the necessary preparation work and launch business in the coming few months” (press release).
More Licences?
The HKMA said it will keep assessing the other applicants against the same standards, and: “Should additional licences be granted in future, the overall number will remain very limited” (HKMA). As of 21 Oct 2026, the register lists 2 licensees.
The register is on the stablecoins page and is re-read on every build.
Sources
- HKMA register www.hkma.gov.hk
- HKMA press release, 10 April 2026 www.hkma.gov.hk
- HKMA Insight, 10 April 2026 www.hkma.gov.hk
- HKMA stablecoin regime www.hkma.gov.hk