The launch of the first batch of compliant stablecoin licenses in Hong Kong has been postponed, and the Monetary Authority responded that it is making every effort to advance the process
The first batch of issuer licenses in Hong Kong was originally scheduled to be issued in March 2026, but it has not materialized as planned. A spokesperson for the Hong Kong Monetary Authority (HKMA) responded that the HKMA is fully committed to advancing the licensing process and will make announcements to the public at the appropriate time.
Regarding who will obtain the first batch of stablecoin licenses in Hong Kong, the market has previously focused on two major Hong Kong dollar issuing banks, HSBC and Standard Chartered. HSBC has not publicly disclosed whether it has submitted an application for a stablecoin license. However, as early as mid-January this year, there were rumors in the market that HSBC had a good chance of obtaining the first batch of licenses. Currently, there is no clear official disclosure on why the issuance of stablecoin licenses has been delayed beyond the anticipated timeline.
Individuals close to the stablecoin license applications revealed that the HKMA has been in close contact with the first batch of potential compliant licensees, and there are still proposed amendments regarding the issuance matters. In addition, the second batch of compliant stablecoin licenses in Hong Kong is also in the application process. Reliable sources indicate that Futu Securities and OSL Group are strong contenders for the second batch of licenses.
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