HSBC and Standard Chartered-led group land Hong Kong’s first stablecoin licenses

What Happened

Hong Kong's central bank granted its first two stablecoin issuer licenses to HSBC and Anchorpoint Financial, a Standard Chartered-led group including Animoca Brands, on Friday. The approvals mark the initial batch under the Stablecoins Ordinance effective August 2025. The regulator assessed thirty-six applications. Licensed stablecoins require strict identity verification and comply with anti-money-laundering controls. Transfers above HK$8,000 must follow travel rule requirements. The licenses reflect Hong Kong's focus on regulated stablecoins over retail central bank digital currencies.

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