HKMA Stablecoin Warning: Fake HSBC Tokens Alert

1. HKMA says HKDAP and HSBC tokens are not official.
2. Licensed issuers have not launched regulated stablecoins.
3. Users should check official company announcements first.

Hong Kong’s crypto market is facing a fresh scam alert after the Hong Kong Monetary Authority warned the public about tokens using the tickers “HKDAP” and “HSBC.” According to the HKMA, these tokens are not issued by, or linked to, licensed stablecoin issuers.

The warning is important because Hong Kong has been building a regulated stablecoin market. Many investors are watching closely for official launches from licensed companies. However, the HKMA made it clear that no regulated stablecoins have been launched by the licensed entities as of April 28, 2026.

HKMA Stablecoin Warning Targets Fake Tickers

The tokens in question appear to be using familiar names to gain trust. “HSBC” is widely known in banking, while “HKDAP” may look connected to Hong Kong digital asset plans. But the regulator said these tokens are not associated with licensed stablecoin issuers.

Both licensed stablecoin issuers have also confirmed that they have not issued any regulated stablecoins in the market yet. The HKMA advised users to stay alert against scams and only rely on official announcements from the licensed companies.

Why This Matters for Crypto Users

Stablecoins are often seen as safer crypto assets because they are usually pegged to fiat currencies. But fake tokens can still cause major losses, especially when scammers use trusted names.

For Hong Kong, this warning comes at a sensitive time. The city wants to become a strong digital asset hub, but investor safety remains a key concern. The latest HKMA Stablecoin Warning shows that regulation alone is not enough if fake tokens keep appearing before official products are launched.

Crypto users should avoid buying tokens just because they use a familiar ticker. Before investing, they should check the issuer’s website, regulator updates, and official exchange listings