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August 2025: Stablecoins Ordinance (Cap. 656) officially takes effect, making fiat-referenced stablecoin issuance a regulated activity under the HKMA With the Stablecoins Ordinance (Cap. 656) effective from 1 August 2025, any entity issuing fiat-referenced stablecoins in Hong Kong is required to obtain a license from the Hong Kong Monetary Authority.

10 April 2026: HKMA grants the first two licenses — from among 36 applicants — to HSBC and Anchorpoint Financial (JV of Standard Chartered + HK Telecom + Animoca Brands) In Hong Kong, the decisive step came on.

April 10, 2026, when the Hong Kong Monetary Authority granted the city's first stablecoin issuer licenses to Anchorpoint Financial and HSBC, ending an eight-month wait.

24 June 2026: Secretary for Financial Services Christopher Hui said in the Legislative Council that these regulated stablecoins are targeted to launch between mid-2026 and the second half of the year. Secretary for Financial Services Christopher Hui told the Legislative Council on June 24, 2026, that regulated stablecoins are expected to launch between mid-2026 and the second half of the year.

HSBC plans to link its stablecoin to the PayMe app (~3.3 million retail users in HK) HSBC has signaled a second-half 2026 launch for its HKD-denominated stablecoin, with distribution anchored in the HSBC HK mobile banking app and PayMe.

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