Hong Kong grants first stablecoin licences to Anchorpoint and HSBC

Hong Kong has issued its first stablecoin licences, approving Anchorpoint Financial and HSBC’s Hong Kong banking arm under the HKMA’s new regime.

Hong Kong has issued its first stablecoin issuer licenses, approving Anchorpoint Financialand the Hongkong and Shanghai Banking Corporationunder a new regulatory framework overseen by the Hong Kong Monetary Authority (HKMA). 

The HKMA announced the initial batch of licensees on Friday, marking the first approvals under its stablecoin regime. 

Anchorpoint Financial is the stablecoin joint venture formed by Standard Chartered Bank (Hong Kong), Animoca Brands and Hong Kong Telecommunications. The Hongkong and Shanghai Banking Corporation Limited is HSBC’s Hong Kong-based banking entity and one of the city’s three note-issuing banks.

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