Stablecoin licenses have just been issued—Hong Kong Monetary Authority warns: scams impersonating HSBC and using “Dingdian” to send out tokens!

Hong Kong’s first batch of stablecoin issuer licensees had just obtained their permits from HSBC and Anchorpoint Financial, when fake tokens appeared in the market, masquerading with the codes “HSBC” and “HKDAP.”

In early April this year, Hong Kong issued the first batch of stablecoin issuer licenses. HSBC Bank and Anchorpoint Financial were the first to receive them, but just as all parties were eagerly awaiting developments, a fraud syndicate had already moved. The Hong Kong Monetary Authority (HKMA) recently warned that fake tokens are already circulating in the market, claiming to be related to 2 licensed issuers, and therefore called on investors to stay alert.

The HKMA said on Tuesday that tokens using the codes “HKDAP” or “HSBC” are currently appearing in the market, but the relevant tokens are not issued by any licensed stablecoin issuer, nor are they related to the issuers in any way.

The HKMA noted that both HSBC Bank and Anchorpoint Financial have stated that they have not issued any regulated stablecoins, and therefore called on the public to remain vigilant against any scams that borrow the names of licensed institutions or falsely claim links to their stablecoins.

At the same time, HSBC Bank and Anchorpoint Financial also each issued statements strongly denying any connection to these tokens, and clarified that no stablecoins have yet been launched in Hong Kong.

HSBC Bank said it plans to launch a Hong Kong dollar–denominated stablecoin in the second half of this year, and that it will be made available via PayMe and HSBC Hong Kong’s mobile wealth management app; Anchorpoint Financial previously disclosed that it expects to start rolling out its own stablecoin “HKDAP” in phases beginning in the second quarter of this year.

《BlockBeats》 previously reported that “Anchorpoint Financial” is a joint venture formed by JPMorgan Chase Bank? (actually “Hack”?) — specifically, that “Anchorpoint Financial (Anchorpoint Financial)” is a joint venture established jointly by Dah Sing Bank (Hong Kong), Hong Kong Telecommunications, and Hong Kong Web3 company Animoca Brands, with the goal of building a business model focused on “issuing and promoting regulated stablecoins.”

Since July 2024, Animoca Brands, Standard Chartered Hong Kong, and Hong Kong Telecommunications have teamed up to participate in the “stablecoin issuer sandbox” launched by the HKMA, jointly exploring how stablecoins can play a key role in the development of the financial and payments markets by combining Web3 with traditional finance, thereby strengthening Hong Kong’s position as a global digital asset hub.

• This article is reprinted with authorization from: 《BlockBeats》
• Original title: 《Fake tokens masquerade as HSBC and Anchorpoint stablecoins! HKMA calls for vigilance—don’t fall for scams》
• Original author: BlockBeats Meimei MEL