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One platform for global traditional assets
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HKMA Warns Fake HSBC, HKDAP Tokens Appeared Before Licensed Stablecoin Launches
HKMA warned on April 28 that fake tokens using the “HSBC” and “HKDAP” tickers had appeared even though neither licensed issuer has launched a regulated stablecoin yet. HSBC and Anchorpoint Financial were the first two issuers licensed under Hong Kong’s Stablecoins Ordinance, but both products are still in preparation for 2026 launches. The warning highlights a gap between public licensing credibility and consumer token verification before bank-branded stablecoins reach users.