$HKT-SS(06823.HK) This is a blockbuster piece of news. The following is a multi-dimensional analysis of the potential benefits this event holds for [stock HKT] (06823.HK).

## The Core Event: Anchor Fintech Secures One of Hong Kong's First Stablecoin Licenses

On April 10, 2026, the Hong Kong Monetary Authority officially announced the granting of stablecoin issuer licenses to **Anchor Fintech Company Limited** (License No. FRS01) and The Hongkong and Shanghai Banking Corporation Limited (FRS02), making them Hong Kong's first licensed stablecoin issuers. Anchor Fintech is a joint venture established by Standard Chartered Bank (Hong Kong), [stock HKT] (HKT), and Animoca Brands. After obtaining the license, it is expected to launch the Hong Kong dollar-pegged stablecoin "HKDAP" in phases from mid to the second half of 2026. [citation 1][citation 2]

Regarding the equity structure, Standard Chartered holds 50.5% as the major shareholder, Animoca Brands holds 37.5%, and [stock HKT] holds a relatively smaller but strategically significant stake. [citation 1]

## Specific Positive Analysis for HKT

**1. Core Role in Payment Infrastructure**

Within the joint venture system, [stock HKT] is positioned as the provider of "local payment networks, retail channels, and telecommunications infrastructure." Its electronic payment platform "Tap & Go" serves as the primary gateway for the joint venture to reach retail consumers. [citation 3] Once the Hong Kong dollar stablecoin officially circulates, HKT's payment infrastructure will become a key bridge for the stablecoin's adoption in the local retail market, helping to increase transaction volume and user stickiness for "Tap & Go" and establish a new revenue pillar beyond its existing telecom business. [citation 4]

**2. Entry into the World's First Batch of Compliant Stablecoin Markets, Extremely Scarce**

Out of 36 applications, the HKMA ultimately approved only two licenses, indicating a very high screening threshold. As a shareholder in the licensed joint venture, [stock HKT] directly shares in the early-stage dividends of Hong Kong's compliant stablecoin market. This "first-mover advantage" is scarce globally and could help the market reprice its value in the fintech sector. [citation 2]

**3. Diverse Application Scenarios, Clear Business Synergies**

The HKMA disclosed that the business plans of licensed issuers cover: cross-border payments, local payments, tokenized asset transaction settlement, as well as innovative applications like conditional payments and supply chain finance. [citation 2] These scenarios are highly aligned with [stock HKT]'s existing enterprise digital solutions business, potentially driving deep integration with enterprise customer groups and extending from a telecom service provider to a comprehensive fintech ecosystem.

**4. Beneficiary of Hong Kong's Digital Asset Hub Strategy**

The Hong Kong government is actively advancing digital financial infrastructure. The enactment of the "Stablecoin Ordinance" makes Hong Kong one of the earliest jurisdictions globally to establish a stablecoin licensing regime. Leveraging the joint venture platform, [stock HKT] is deeply embedded within this policy framework, which could grant it additional advantages in future digital economy-related policy resources and government-business cooperation. [citation 5]

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