Hong Kong has issued its first stablecoin issuer licenses, granting licenses to companies such as Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation. The licenses were approved under a new regulatory framework overseen by the Hong Kong Monetary Authority (HKMA). This announcement comes after months of unconfirmed reports about potential licensees and a missed March timeline, marking a cautious start to Hong Kong's stablecoin licensing rollout. The new regime, which took effect on Aug. 1, 2025, requires applicants to obtain an HKMA license and meet rules including reserve backing, redemption, governance and Anti-Money Laundering controls.