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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 stablecoin licence issuance delayed as review continues
Hong Kong’s financial regulator had signalled it would issue its first stablecoin licence in the first quarter, but no applicant has been approved as of April. The Hong Kong Monetary Authority said it is continuing to process and review applications and will announce any progress, without giving a timetable. It has asked applicants to strengthen disclosures on reserve assets, anti-money laundering controls, redemption mechanisms and responses under extreme stress.
Crypto
Hong Kong, Shanghai begin blockchain test for trade data
Hong Kong and Shanghai have begun working together to use blockchain technology to simplify trade finance and cargo document processing, Cointelegraph reported on Tuesday. The Hong Kong Monetary Authority, Shanghai Data Bureau and the National Technical Innovation Center for Blockchain signed a memorandum of understanding on trade digitalisation. The cooperation, part of Project Ensemble launched in 2024, focuses on studying a blockchain-based platform linking trade data, electronic bills of lading and financial applications.
