Hong Kong Grants Its First Stablecoin Licenses

Hong Kong's Monetary Authority granted its first stablecoin issuer licenses on April 10, 2026, to HSBC and Anchorpoint, a joint venture of Standard Chartered, Animoca Brands and HKT. The licenses took effect immediately, and both licensees will begin operations in the coming months. The HKMA said there is no timetable for additional licenses, and Anchorpoint plans to start issuing its Hong Kong dollar stablecoin HKDAP in phases from the second quarter of 2026. Liu Honglin, founder of KUN Law Firm, argues that the more important question is who will actually use Hong Kong stablecoins.