Hong Kong Monetary Authority: Anchor Point Financial, HSBC Bank Issued First Batch of Stablecoin Issuer Licenses

BlockBeats News, April 10th, the Hong Kong Monetary Authority announced that the Financial Secretary has granted two institutions, SC Ventures by Standard Chartered Bank (Hong Kong), PCCW, and HKT Limited, and HSBC, a stablecoin issuer license under the "Stablecoin Issuer Ordinance," marking a new phase in Hong Kong's stablecoin regulatory regime.

Before the licensed issuers formally launch their compliant stablecoins, they are required to complete relevant preparations, including technology platform and system testing, implementation of risk management measures, staffing arrangements, and more. Based on the current business plans of the two institutions, we expect regulated stablecoins in Hong Kong to be launched gradually from the middle to the second half of this year.