Hong Kong’s first regulated HKD stablecoin launched on August 12 via Anchorpoint Financial, a subsidiary of Standard Chartered. Only institutions, corporate clients and professional investors can access it for now, with retail access not expected before late 2026. The Hong Kong Monetary Authority (HKMA) approved only two licenses out of 36 applications, the other one held by HSBC. The regulatory framework sets strict requirements: HK$25 million (approximately $3.2 million) in paid-up capital and reserves separated from company funds. The global stablecoin market is worth roughly $300 billion, with Tether alone holding approximately 61% of that total.
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