Hong Kong Warns of Fake Stablecoins Linked to HSBC and Anchorpoint

The Hong Kong Monetary Authority (HKMA) has issued a warning about fake tokens circulating under the names 'HKDAP' and 'HSBC'. The HKMA confirmed that neither token is connected to any licensed stablecoin issuer operating in the region.

HSBC and Anchorpoint Financial, a joint venture involving Standard Chartered, Animoca Brands, and Hong Kong Telecommunications, recently received licenses to issue stablecoins in Hong Kong. HSBC plans to launch an HKD-denominated stablecoin in the second half of 2026, while Anchorpoint has outlined plans to launch its HKDAP stablecoin in phases beginning in the second quarter of this year.

The fake tokens appear to exploit the public visibility both companies gained after the license announcements. The HKMA did not disclose where the fraudulent tokens are being traded or how broadly they have circulated.