{"id":24258,"date":"2026-04-10T11:43:39","date_gmt":"2026-04-10T11:43:39","guid":{"rendered":"https:\/\/businessprofittoday.com\/index.php\/2026\/04\/10\/hong-kong-issues-first-stablecoin-licenses-to-hsbc-and-standard-chartered\/"},"modified":"2026-04-10T11:43:39","modified_gmt":"2026-04-10T11:43:39","slug":"hong-kong-issues-first-stablecoin-licenses-to-hsbc-and-standard-chartered","status":"publish","type":"post","link":"https:\/\/businessprofittoday.com\/index.php\/2026\/04\/10\/hong-kong-issues-first-stablecoin-licenses-to-hsbc-and-standard-chartered\/","title":{"rendered":"Hong Kong Issues First Stablecoin Licenses to HSBC and Standard Chartered"},"content":{"rendered":"

The post Hong Kong Issues First Stablecoin Licenses to HSBC and Standard Chartered<\/a> appeared first on Coinpedia Fintech News<\/a><\/p>\n

Hong Kong just wrote itself into crypto history. This morning, the Hong Kong Monetary Authority granted the city’s first stablecoin issuer licences<\/a> and the two recipients are the same banks that have printed Hong Kong’s banknotes since 1846.<\/p>\n

The licences, effective today, were awarded to The Hongkong and Shanghai Banking Corporation Limited – HSBC – and Anchorpoint Financial Limited, a joint venture led by Standard Chartered that also includes Animoca Brands and Hong Kong Telecommunications. <\/p>\n

The HKMA assessed 36 applications before issuing this first batch.<\/p>\n

Why HSBC and Standard Chartered and Why It Matters<\/strong><\/h2>\n

The choice is deliberate and deeply symbolic. HSBC and Standard Chartered are two of only three commercial banks authorised to issue Hong Kong dollar banknotes, a privilege dating back to 1846. The HKMA is handing the digital money supply to the same institutions that manage the physical one.<\/p>\n

HKMA Chief Executive Eddie Yue called it “an important milestone for the development of digital assets in Hong Kong,”<\/em> adding that he hoped the licensees would “address pain points in financial and economic activities” <\/em>for both individuals and businesses.<\/p>\n

The Stablecoins Ordinance took effect in August 2025. Hong Kong missed its own March 2026 target<\/a> to issue the first licences. Today’s announcement is the delivery, and both licences take immediate effect.<\/p>\n

You Might Find This Interesting: \u2018Big Short\u2019 Exposed: Did a Hong Kong Hedge Fund Trigger the Bitcoin Price Crash?<\/a><\/strong><\/p>\n

What Comes Next<\/strong><\/h2>\n

Neither institution is launching immediately. According to the HKMA, both licensees intend to “complete the necessary preparation work and launch business in the coming few months.”<\/em> Both will issue stablecoins pegged to the Hong Kong dollar.<\/p>\n

Standard Chartered CEO Bill Winters has previously described Hong Kong’s stablecoin push as potentially laying “the foundation for a new era of digital trade settlement.”<\/em> <\/p>\n

The Bigger Picture<\/strong><\/h2>\n

This is not just a regulatory milestone. It is Hong Kong placing itself<\/a> at the centre of Asia’s digital asset infrastructure at a moment when the global stablecoin market has grown beyond $310 billion – with Citi projecting it could<\/a> grow to between $1.9 trillion and $4 trillion. <\/p>\n

Dollar-denominated tokens dominate almost all of it today. Hong Kong is betting that regulated, bank-issued HKD stablecoins can carve out a meaningful role in regional trade settlement. <\/p>\n

The same institutions that have managed the city’s monetary system for over 170 years will now test whether that history translates into digital trust.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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