Key Points
- Hong Kong plans to issue its first stablecoin issuer licenses in March.
- Regulators are advancing broader digital asset oversight alongside stablecoin rules.
The Hong Kong Monetary Authority (HKMA) plans to issue its first stablecoin issuer licenses in March, marking a step in its evolving digital asset framework.
According to a report from Reuters, HKMA Chief Executive Eddie Yue told lawmakers on Feb. 2 that only a very small number of licenses are expected to be approved initially, without naming applicants or setting a precise date.
The HKMA previously said it received 36 completed applications before the Aug. 1, 2025 deadline for stablecoin issuer licensing.
Earlier disclosures did not identify applicants, though some companies have publicly confirmed submissions to the regulator.
Animoca Brands and Standard Chartered announced the formation of Anchorpoint Financial Limited, stating the joint venture submitted a stablecoin license application to the HKMA on Aug. 1, 2025.
Regulatory Regime for Stablecoin Issuers
Hong Kong’s financial authorities are implementing broader regulatory changes involving the HKMA, the Financial Services and the Treasury Bureau, and the Securities and Futures Commission.
These efforts include proposed updates to crypto custody rules and plans to align over-the-counter desks, brokers, and asset custodians with existing licensing requirements for trading platforms.
The Securities and Futures Commission has also outlined stricter expectations for licensed virtual asset trading platforms, citing alignment with its published regulatory roadmap.
Alongside stablecoin oversight, the HKMA has published a roadmap featuring more than 40 initiatives spanning data infrastructure, artificial intelligence, operational resilience, and the tokenization of finance.
