AsianFin -- Hong Kong’s de facto central bank has denied media reports claiming it had issued the first stablecoin linked to the Chinese yuan.

The Hong Kong Monetary Authority (HKMA) said Wednesday on its official WeChat account that it has not granted any stablecoin licenses, and any issuance or promotional activities related to such tokens remain illegal under current regulations.

The clarification followed online speculation that AnchorX had launched AxCNH, a stablecoin pegged to the offshore yuan, in Hong Kong. Social media rumors on Sept. 17 suggested the token’s debut came after the firm secured the city’s first stablecoin license.