The Hong Kong Monetary Authority has announced issuing the first batch of stablecoin issuer licenses to Anchorage Financial and Hong Kong and Shanghai Banking Corporation.

The Hong Kong Monetary Authority announced today that the Commissioner of Financial Management has granted stablecoin issuers licenses to Tether International Limited and HSBC Hong Kong Limited under the Stablecoin Regulation to issue stablecoins in Hong Kong. The licenses are effective today. According to the licensees' business plans, they plan to commence operations in the coming months once relevant preparation work is completed.