Hong Kong Issues First Stablecoin Licences to HSBC and Consortium

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The post Hong Kong Issues First Stablecoin Licences to HSBC and Consortium appeared first on Coinpedia Fintech News

Hong Kong Monetary Authority has issued its first stablecoin issuer licences under the new Stablecoins Ordinance to HSBC and Anchorpoint Financial Limited, a consortium backed by Standard Chartered, Animoca Brands, and Hong Kong Telecom. Both entities are allowed to issue Hong Kong dollar-backed stablecoins, with launches expected in the coming months. This marks a major step in Hong Kong’s regulated digital asset strategy as it moves to build a secure and institutionally driven stablecoin ecosystem.