US EditionHong Kong Approves First Stablecoin Licences for HSBC, Standard Chartered Venture
The approvals follow 36 applications and will let the banks issue Hong Kong dollar-pegged tokens under strict anti-money-laundering rules.
- On Friday, the Hong Kong Monetary Authority issued the city's first stablecoin licenses to HSBC and Anchorpoint Financial, a consortium led by Standard Chartered, marking a major regulatory milestone.
- Eight months after the Stablecoin Ordinance took effect in August 2025, the HKMA assessed 36 applications and prioritized traditional banks to balance Hong Kong's digital asset ambitions with stringent risk management controls.
- Unlike freely transferable tokens like USDT or USDC, these HKD-pegged stablecoins embed compliance checks into smart contracts, restricting transfers above $1,000 to wallets verified through identity checks.
- Both issuers plan to launch stablecoins in the second half of this year for cross-border payments and digital asset trading. HKMA chief executive Eddie Yue stated the goal is to "address pain points in financial and economic activities."
- Standard Chartered CEO Bill Winters said the push could "lay the foundation for a new era of digital trade settlement," yet HKMA deputy chief executive Daryl Ho cautioned the authority remains "open but cautious" on future approvals.
33 Articles
33 Articles
What's Going On With HSBC Stock Friday? - HSBC Holdings (NYSE:HSBC)
HSBC Holdings plc (NYSE:HSBC) shares edged higher Friday after Hong Kong regulators approved new stablecoin issuer licenses, signaling progress in digital asset oversight. The Hong Kong Monetary Authority (HKMA) granted licenses to Anchorpoint Financial Limited — a joint venture by Standard Chartered PLC (OTC:SCBFF) (OTC:SCBFY) — and The Hongkong and Shanghai Banking Corporation Limited under a new regulatory framework. Regulatory Breakthrough I…
Channel News Asia
Business TimesHong Kong grants first stablecoin licences to StanChart joint venture and HSBC
HONG KONG, April 10 : Hong Kong has issued its first licences for fiat-backed stablecoins, a major step in the city's push to develop regulated digital currencies in global finance and trade.The Hong Kong Monetary Authority (HKMA) said on Friday it had approved HSBC and a joint venture by Standard Chartered
Coverage Details
Bias Distribution
- 72% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
