Hong Kong Monetary Authority has warned of fake stablecoins circulating under the names of HSBC and Anchorpoint Financial ahead of their official launches.
Authorities said tokens using the tickers “HSBC” and “HKDAP” have appeared but are not linked to any regulated issuers.
“As of this moment, both licensed stablecoin issuers have confirmed that they have not issued any regulated stablecoins in the market,”
The HKMA said.
Both HSBC and Anchorpoint confirmed they have not yet launched stablecoins, with HSBC planning a Hong Kong dollar token rollout in the second half of 2026.
Hong Kong introduced its stablecoin licensing regime in 2025, requiring issuers to meet strict rules on reserves, redemption rights, governance and anti-money laundering controls.
The warnings highlight rising scam risks as interest in stablecoins grows, particularly during early-stage rollouts before official products are available.
The case underscores the need for investors to verify tokens through official channels as traditional financial institutions expand into blockchain-based payment systems.