Key Takeaways:
Hong Kong warned unauthorized tokens are misusing names of licensed stablecoin issuers. HSBC and Anchorpoint denied hyperlinks to tokens labeled HKDAP and HSBC. Customers ought to depend on official bulletins as regulated stablecoin issuance has not begun.
Hong Kong Flags Misuse of Stablecoin Issuer Names
Hong Kong’s central financial institution warned on April 28, 2026, that unauthorized stablecoin claims are rising round licensed issuers, with HSBC among the many names being misused. The Hong Kong Financial Authority stated the tokens will not be related to licensed stablecoin issuers. The alert comes earlier than any regulated stablecoins have been issued out there.
The warning cited statements from The Hongkong and Shanghai Banking Company (HSBC) Restricted and Anchorpoint Monetary Restricted. The Hong Kong Financial Authority stated the launched tokens don’t have any issuer backing from licensed corporations. The central financial institution emphasised:
“Tokens with tickers ‘HKDAP’ or ‘HSBC’ have been launched, however they don’t seem to be issued by or in any other case related to licensed stablecoin issuers.”
The financial authority additionally confirmed that regulated issuance has not began, stating: “As of this second, each licensed stablecoin issuers have confirmed that they haven’t issued any regulated stablecoins out there.”
HSBC Timeline Highlights Hole Earlier than Regulated Issuance
HSBC additionally issued a press release on April 28 that offers a transparent timeline for customers assessing token claims. “HSBC has not but issued any stablecoins in Hong Kong. We plan to launch an Hong Kong-dollar denominated stablecoin within the second half of this yr below a brand new licence granted in April 2026,” the banking big revealed. “At launch, the HSBC-issued stablecoin will solely be supplied by way of PayMe and the HSBC HK Cell App. Additional updates will probably be offered in the end.” The financial institution additionally rejected any present market affiliation with tokens utilizing its identify, stating:
“HSBC has no connection to any fraudulent stablecoins purportedly related to HSBC.”
It warned clients to stay alert to funding scams, contact its private customer support hotline if involved, and report suspected fraud to police.
Anchorpoint individually stated it has not issued regulated stablecoins, different tokens, or merchandise below HKDAP. The corporate said: “Anchorpoint hereby clarifies that since acquiring the stablecoin issuer licence from the Hong Kong Financial Authority on 10 April 2026, we’ve not formally issued any regulated stablecoins, different tokens and merchandise below the identify HKDAP.”
The case underscores a key market threat as Hong Kong’s stablecoin framework strikes from licensing towards issuance. Recognition of a financial institution identify or ticker doesn’t set up regulatory standing, issuer approval, or product authenticity. The Hong Kong Financial Authority urged customers to depend on official bulletins and controlled channels. For stablecoin customers, verified issuance stays the decisive check.
