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Crypto

Hong Kong regulator issues first stablecoin licences to HSBC and Anchorpoint

Hong Kong\'s monetary authority has issued the city’s first stablecoin licences to HSBC and Anchorpoint Financial, The Block reported on Thursday. Anchorpoint Financial is a joint venture set up by Standard Chartered, Animoca Brands and Hong Kong telecoms company HKT. The Hong Kong Monetary Authority added HSBC and Anchorpoint Financial Limited to its list of stablecoin licence holders. CEO Eddie Yue called the move a milestone for digital assets.

Crypto

Hong Kong to issue first stablecoin issuer licences in March

Hong Kong’s monetary authority will issue its first stablecoin issuer licences in March, Cointelegraph reported, citing Reuters. HKMA Chief Executive Eddie Yue said reviews of licence applications were nearly complete and that only a very small number would receive initial approval. Authorities are evaluating applicants based on use cases, risk management, AML controls and the quality of reserve assets. Issuers must also comply with Hong Kong rules on cross-border activities.