HONG KONG, April 10 (Xinhua) -- The Hong Kong Monetary Authority (HKMA) said on Friday that it has granted stablecoin issuer licences to Anchorpoint Financial Limited and the Hongkong and Shanghai Banking Corporation Limited.

The two companies stood out from 36 applications for their capabilities to properly manage risks with credible use cases and development plans, in addition to meeting the relevant licensing requirements under the Stablecoins Ordinance, said the HKMA.

Both licensed issuers said they will start by issuing Hong Kong dollar-referenced stablecoins, with plans to explore cross-border payments, local payments, tokenized asset trading and innovative use cases. ■