Hong Kong Advances Stablecoin Regulation With First Licenses

[madtrader]

Hong Kong’s push into regulated digital assets may take a historic step as the HKMA prepares to grant stablecoin licenses to a select group of institutions, reportedly including HSBC Holdings and Standard Chartered.

The move aligns with the city’s Stablecoin Ordinance, which came into force in August 2025, making it illegal to offer fiat-backed stablecoins without a license. Officials have indicated the first batch will be “very small”, prioritizing banks already issuing Hong Kong dollars.

[bonk]

bro first batch of licenses by March 24 feels like HK about to flex on Singapore lmao