Hong Kong Monetary Authority Warns of Fraudulent Tokens Impersonating HSBC and Anchorpoint Stablecoins

Gate News message, April 29 — The Hong Kong Monetary Authority (HKMA) issued a warning Tuesday against fraudulent stablecoins falsely claiming to be linked to the region's two licensed issuers, HSBC and Anchorpoint Financial. Tokens named "HKDAP" and "HSBC" have appeared in the market but have no association with any licensed stablecoin issuers, the HKMA said, urging the public to remain vigilant against scams purporting to be associated with the licensees.

Both HSBC and Anchorpoint released separate statements denying any involvement and clarified they have not yet launched stablecoins in Hong Kong. HSBC plans to launch an HKD-denominated stablecoin in the second half of 2026, offered through PayMe and the HSBC HK Mobile App. Anchorpoint aims to launch its HKDAP stablecoin in phases starting in the second quarter of this year.

The HKMA issued Hong Kong's first stablecoin issuer licenses to HSBC and Anchorpoint earlier this month. Hong Kong has been advancing its crypto regulatory framework since 2022, including establishing a licensing system for crypto exchanges and launching a stablecoin sandbox in 2024 to allow potential issuers to experiment with token designs under regulatory supervision.