🚨 Hong Kong Moves Closer to Regulated Stablecoins
Two global banking giants, HSBC and Standard Chartered, are expected to be among the first institutions to receive stablecoin licenses in Hong Kong.
to reports from Bloomberg, approvals could come as early as March 24, marking a major milestone for the region’s regulated digital asset ecosystem.
The move follows the implementation of Hong Kong’s Stablecoin Ordinance, overseen by the Hong Kong Monetary Authority, which officially came into effect in August 2025. Regulators reportedly received 36 applications from companies seeking approval to issue stablecoins under the new framework.
Authorities are prioritizing note-issuing banks for the first batch of licenses, viewing well-capitalized financial institutions as safer and more reliable issuers.
Meanwhile, Standard Chartered has already revealed plans to launch a Hong Kong dollar-backed stablecoin through a joint venture with Animoca Brands and HKT.
If approved, the initiative could position Hong Kong as one of the first major financial hubs to introduce a fully regulated stablecoin ecosystem backed by traditional banks, potentially accelerating institutional adoption of digital assets across Asia. 🚀