Post by Crypto.com

ICYMI — 🇭🇰 The Hong Kong Monetary Authority (HKMA) officially granted stablecoin issuer licenses to HSBC and the Anchorpoint Financial consortium. This marks the first time a major global bank has been authorized to issue a regulated stablecoin in the region. 📜 The licenses were issued under Hong Kong’s new stablecoin framework, which requires issuers to maintain 1:1 reserves in high-quality assets and strictly prohibits the offering of interest or yield to holders. 🏗️ HSBC and Anchorpoint confirmed they will begin a pilot phase in the coming months, focusing on integrating the new regulated tokens into existing cross-border payment and settlement systems for corporate clients. Why you should care 👇 This is a landmark for the "institutionalization" of stablecoins. When one of the world’s largest banks moves from observing the market to becoming a regulated issuer, it legitimizes stablecoins as a core piece of financial infrastructure rather than just a niche crypto tool.