Hong Kong Monetary Authority grants stablecoin issuer licences to Anchorpoint and HSBC
余偉文談穩健發展香港合規穩定幣生態圈
The Hong Kong Monetary Authority announced that the Monetary Authority has granted stablecoin issuer licences to Anchorpoint Financial Technology Limited and HSBC under the Stablecoins Ordinance. A total of 36 institutions applied in the first phase, and the two licensees plan to issue Hong Kong dollar stablecoins first, with business covering cross-border payments, local payments, trading in tokenised assets and innovative applications. Regulated stablecoins in Hong Kong are expected to be launched progressively from mid-year to the second half of this year.
The article lists the approval outcome of 36 applications with only 2 granted, and the use cases of the two licensees, allowing verification of how high the licensing threshold is.
Source: 金管局·匯思 · hkma.gov.hk