HSBC and Standard Chartered Expected to Receive Hong Kong’s First Stablecoin Licenses

TheNewsCryptoPublicado em 2026-03-13Última atualização em 2026-03-13

Resumo

HSBC and Standard Chartered are expected to be among the first to receive stablecoin issuer licenses in Hong Kong under the new regulatory framework established by the Hong Kong Monetary Authority (HKMA). The Stablecoin Ordinance, passed in 2025, requires businesses to obtain official approval before issuing fiat-backed stablecoins. The initial licensing round will be limited, with only a small number of approvals expected soon. This move is part of Hong Kong's strategy to build a regulated digital-asset ecosystem, balancing innovation with investor protection. The involvement of major traditional banks like HSBC and Standard Chartered could help integrate regulated stablecoins into global finance, improving the efficiency of cross-border payments and settlements.

Two major international banks, HSBC and Standard Chartered, are expected to receive some of the first stablecoin issuer licenses in Hong Kong. The move would mark an important step in Hong Kong’s effort to build a regulated digital-asset ecosystem.

Hong Kong moves to regulated stablecoins.

The Hong Kong Monetary Authority (HKMA) has set up a new system for giving out the licenses. The Stablecoin Ordinance was passed by the regulator in 2025. It says that businesses must get official permission before issuing stablecoins that are backed by fiat currency. According to reports, the first approvals could be granted within the next few weeks.

Hong Kong regulators plan to issue only a small number of licenses in the initial round. Authorities reportedly reviewed dozens of applications before selecting potential issuers. Sources say around 36 companies initially expressed interest in applying for stablecoin licenses. HSBC’s potential approval is particularly notable because the bank did not participate in the HKMA’s earlier stablecoin sandbox program, which was designed to test projects before formal licensing.

The licensing process shows that Hong Kong wants to attract crypto businesses while still keeping strict rules. The government wants to protect investors while also encouraging new ideas. More and more, traditional banks are looking into blockchain-based payment systems to speed up international payments.

Many traditional banks are looking into blockchain technology to make payments and settling debts faster. If they get the green light, HSBC and Standard Chartered could help bring regulated stablecoins into the world of finance. This could make it easier for banks and people all over the world to use blockchain technology.

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TagsHongKongHSBCStablecoin

Perguntas relacionadas

QWhich two banks are expected to receive Hong Kong's first stablecoin licenses?

AHSBC and Standard Chartered are expected to receive Hong Kong's first stablecoin licenses.

QWhat is the name of the regulatory authority and the ordinance that established the stablecoin licensing system in Hong Kong?

AThe Hong Kong Monetary Authority (HKMA) established the system, and the Stablecoin Ordinance was passed in 2025.

QWhat is a key requirement for businesses under the new Stablecoin Ordinance?

ABusinesses must obtain official permission before issuing fiat-backed stablecoins.

QHow many companies initially expressed interest in applying for a stablecoin license, and how many licenses will be issued in the initial round?

AAround 36 companies initially expressed interest, but only a small number of licenses will be issued in the initial round.

QWhy is HSBC's potential approval particularly notable, according to the article?

AIt is notable because HSBC did not participate in the HKMA's earlier stablecoin sandbox program designed to test projects before formal licensing.

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