HKMA Issues Warning on Fake Tokens Using 'HSBC' and 'HKDAP' Tickers

The Hong Kong Monetary Authority (HKMA) issued a warning on April 28 regarding the emergence of fake tokens using the 'HSBC' and 'HKDAP' tickers. According to NS3.AI, these tokens have appeared despite the fact that neither licensed issuer has launched a regulated stablecoin yet. HSBC and Anchorpoint Financial are the first two issuers licensed under Hong Kong's Stablecoins Ordinance, with both products still in preparation for launches in 2026. The warning underscores the discrepancy between public licensing credibility and consumer token verification before bank-branded stablecoins become available to users.