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USDC Jersey Sponsorship Sparks Regulatory Uncertainty in Hong Kong

Guavy AI Editorial Team
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USDC
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Hong Kong football fans are questioning whether wearing Chelsea's new USDC-branded jerseys could breach local digital currency regulations.

The English Premier League club signed a sponsorship deal with stablecoin issuer Circle in late August, featuring the USDC brand on player shirts for the 2026-27 season.

Circle's UK arm, Circle UK Trading, is regulated by the FCA for certain financial services, but USDC is not issued or regulated under UK law, nor is it distributed by a licensed stablecoin issuer in Hong Kong.

Only two stablecoin issuers hold licences in Hong Kong: Anchorpoint Financial Limited and HSBC. Before the Stablecoins Ordinance took effect on August 1, 2025, the Hong Kong Monetary Authority warned that actively marketing the issue of unlicensed fiat-referenced stablecoins to the public would be illegal.

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