Hong Kong Monetary Authority: Issued the first batch of stablecoin issuer licenses to Anchorage Financial and HSBC Bank.

The Hong Kong Monetary Authority announced today that the Financial Secretary has granted a stablecoin issuer license to Impendium Financial Technologies Limited (a company formed by Standard Chartered Bank, Hong Kong Telecom, and PCCW Group) and HSBC Limited, allowing them to issue stablecoins in Hong Kong. The license took effect today. According to the license holders' business plans, they plan to commence operations in the coming months after completing the necessary preparations. Eddie Yue, Chief Executive of the HKMA, stated: The approval of the stablecoin issuer license is an important milestone in the development of digital assets in Hong Kong. The regulatory framework provides a orderly operating environment, allowing stablecoin issuers to utilize innovative technology while adequately protecting users' rights and controlling related risks, promoting the healthy, responsible, and sustainable development of the stablecoin ecosystem in Hong Kong. We look forward to the license holders commencing operations as planned, actively exploring development opportunities while managing risks effectively, promoting the application of compliant stablecoins, addressing pain points in financial and economic activities, creating value for citizens and businesses, and driving the healthy growth of digital assets in Hong Kong.