Hong Kong Approves First Stablecoin Issuers
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Show Notes
Hong Kongs First Stablecoin Issuer Licenses: HSBC and Standard Chartered Lead the Pack
Hong Kong is set to approve its inaugural stablecoin issuer licenses, with HSBC and a joint venture led by Standard Chartered expected to be among the first. The Hong Kong Monetary Authority plans to prioritize big banks already authorized to issue local banknotes, such as HSBC, Standard Chartered, and Bank of China branches. This move follows the citys stablecoin regulation law passed in August 2025, which bans unlicensed stablecoins for everyday investors and received applications from 36 institutions by September. Officials have not confirmed the exact names or timeline, but sources suggest a possible rollout as early as March 2024, with only a small number of issuers in the first batch. These approvals mark Hong Kongs push to establish itself as a leading digital asset hub, despite mainland China tightening rules on stablecoins nearby.
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