HKMA Warns of Fraudulent Tokens Impersonating Licensed Stablecoin Issuers on April 28

The Hong Kong Monetary Authority (HKMA) issued a public warning on April 28 regarding fraudulent digital tokens circulating under the names of two newly licensed stablecoin issuers. Tokens carrying the tickers “HKDAP” and “HSBC” have appeared in the market without authorization from Anchorpoint Financial Limited or The Hongkong and Shanghai Banking Corporation Limited, both of which received Hong Kong’s inaugural stablecoin issuer licenses on April 10. HSBC confirmed it has no connection to any tokens currently using its name and clarified that its planned Hong Kong dollar-denominated stablecoin remains under preparation for a second-half 2026 launch. When released, the product will be available exclusively through PayMe and the HSBC HK Mobile Banking App. Anchorpoint similarly confirmed it has not released any stablecoin product to the public.