# HKMA İlgili Makaleler

HTX Haber Merkezi, kripto endüstrisindeki piyasa trendleri, proje güncellemeleri, teknoloji gelişmeleri ve düzenleyici politikaları kapsayan "HKMA" hakkında en son makaleleri ve derinlemesine analizleri sunmaktadır.

Hong Kong Issues Licenses, Stablecoin Landscape Shifts: Who is Reshaping the Next Generation Financial Map?

Hong Kong's financial landscape has entered a new phase with the issuance of the first stablecoin licenses by the Hong Kong Monetary Authority (HKMA) on April 10, 2026. Anchor Fintech and HSBC were granted the initial approvals, marking the completion of a regulatory framework that spans legislation, review, and licensing. This move signals a strategic shift in the role of stablecoins—from being auxiliary tools in crypto trading to integral components in cross-border payments, tokenized asset transactions, and programmable finance. With only 2 licenses issued from 36 applications, HKMA has adopted a highly selective, quality-over-quantity approach. The licensing process underscores Hong Kong’s ambition to position itself as a leader in digital finance infrastructure, combining banking credibility, payment networks, and blockchain capabilities. Compared to the EU’s MiCA framework and the UK’s upcoming crypto regulations, Hong Kong has gained a first-mover advantage in institutionalizing stablecoins. The city has already laid the foundation with initiatives like tokenized green bonds, e-HKD trials, and the Project Ensemble Sandbox. Globally, dollar-backed stablecoins still dominate over 90% of the market. Hong Kong’s strategy is not to directly challenge the dollar’s dominance but to create a regulated, scalable path for non-dollar stablecoins. It also complements mainland China’s digital yuan system, forming a two-tiered structure: onshore digital RMB for domestic use, and Hong Kong’s licensed stablecoins for offshore and international applications. While this is a significant step, success will depend on whether Hong Kong can build sufficient network effects and real-world adoption to compete with established dollar stablecoins. The focus remains on turning a high-standard regulatory model into a system with tangible scale and influence.

marsbit04/14 15:53

Hong Kong Issues Licenses, Stablecoin Landscape Shifts: Who is Reshaping the Next Generation Financial Map?

marsbit04/14 15:53

The True Target of Hong Kong's 'Open Scheme' Was Never Stablecoins

Hong Kong's recent issuance of the first stablecoin licenses to HSBC and Standard Chartered—while excluding strategic players like Bank of China Hong Kong—has sparked market disappointment. However, this move may be a deliberate “managed failure” designed not to promote a commercial stablecoin industry, but to advance the government’s broader financial infrastructure goals. The licensed banks, with limited commercial incentive, are effectively subsidizing the development of user education, technical infrastructure, and regulatory frameworks. Their participation ensures that Hong Kong can build the ecosystem needed for its central bank digital currency (e-HKD) without direct public investment. Key narratives around stablecoin use cases—cross-border payments, RWA tokenization, and retail consumption—are structurally flawed and unsustainable in Hong Kong’s context. Instead, the licensing framework serves as a tool to channel private sector resources into developing a state-controlled digital clearing system. The ultimate aim is to reclaim monetary clearing sovereignty amid global shifts toward CBDCs and digital monetary competition. While surface-level Web3 excitement fades, Hong Kong is positioning itself to compete as a next-generation financial hub with a modernized, sovereign financial infrastructure.

marsbit04/14 07:14

The True Target of Hong Kong's 'Open Scheme' Was Never Stablecoins

marsbit04/14 07:14

Norman Chan: Steadily Developing Hong Kong's Compliant Stablecoin Ecosystem

On April 10, the Hong Kong Monetary Authority (HKMA) issued stablecoin licenses to Point (a joint venture among Standard Chartered Bank, Hong Kong Telecom, and an unnamed group) and HSBC under the “Stablecoin Ordinance.” In an official article, HKMA Chief Executive Eddie Yue highlighted that this marks a new phase in Hong Kong’s regulation of stablecoins. Both licensees plan to initially issue Hong Kong dollar-denominated stablecoins, focusing on four key areas: cross-border and local payments, tokenized asset trading, and innovative applications. Given their banking experience and prior involvement in central bank digital currency (CBDC) trials, the two institutions are well-positioned to explore synergies in “next-generation payment systems.” The HKMA emphasized that licensing standards will remain high, with a limited number of licenses to be issued. Ongoing compliance will be ensured through on-site examinations and other supervisory measures. The move aims to align with global regulatory trends and leverage compliant stablecoins to address real economic needs, strengthening Hong Kong’s foundation as a digital finance hub.

marsbit04/12 07:09

Norman Chan: Steadily Developing Hong Kong's Compliant Stablecoin Ecosystem

marsbit04/12 07:09

Hong Kong Issues First Stablecoin Licenses To HSBC, Standard Chartered JV

The Hong Kong Monetary Authority (HKMA) has issued its first stablecoin licenses to The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Anchorpoint Financial Limited, a joint venture between Standard Chartered, Animoca Brands, and Hong Kong Telecom. This follows the implementation of Hong Kong’s Stablecoins Ordinance in August 2025, which established a licensing framework for fiat-backed cryptocurrency issuers. The HKMA received 36 applications but approved only two in this initial phase, as anticipated by Chief Executive Eddie Yue. Amid a broader downturn in digital assets, the stablecoin market has remained resilient, with its combined market cap holding near all-time highs since Q4 2025. Meanwhile, Bitcoin has declined over 42% in the same period. At the time of writing, Bitcoin was trading around $72,200, up more than 8% over the past week.

bitcoinist04/11 07:02

Hong Kong Issues First Stablecoin Licenses To HSBC, Standard Chartered JV

bitcoinist04/11 07:02

HSBC Bank and Anchorpoint Financial win Hong Kong’s first stablecoin licenses – Details

Hong Kong has issued its first stablecoin licenses to institutional, bank-backed entities HSBC Bank and Anchorpoint Financial (backed by Standard Chartered, Animoca Brands, and HKT). This marks the formal launch of the city's strict stablecoin regulatory framework, which prioritizes established players with strong compliance, capital reserves, and regulatory respect. The cautious, limited approval process may slow broader market participation and innovation in the near term but is designed to ensure user protection, risk management, and overall trust. The regime, which came into effect in August 2025, includes stringent rules on reserves, governance, and anti-money laundering controls.

ambcrypto04/10 14:02

HSBC Bank and Anchorpoint Financial win Hong Kong’s first stablecoin licenses – Details

ambcrypto04/10 14:02

After Two Years and 36 Applicants Narrowed to 2! Hong Kong's First Batch of Stablecoin Licenses Issued, HSBC and Standard Chartered Successfully Break Through

Hong Kong has issued its first batch of stablecoin licenses to two institutions after a two-year regulatory process. The Hong Kong Monetary Authority (HKMA) granted approval to HSBC and AnchorFin Tech Limited, a joint venture involving Standard Chartered Bank, HKT, and Animoca Brands. The licensed entities are expected to launch regulated stablecoins by mid-to-late this year. The move marks a major milestone in Hong Kong’s digital asset development, following the introduction of a sandbox arrangement in March 2024 and the formal enactment of the Stablecoin Ordinance in August 2025. Initially, over 70 companies showed interest in applying, but only 36 eventually submitted applications. The HKMA emphasized a cautious and quality-focused approach to licensing. This development is seen as a key step in strengthening Hong Kong’s position as an international digital asset hub. It is expected to promote the use of compliant stablecoins in areas such as cross-border payments, tokenized securities, and decentralized finance (DeFi), while ensuring user protection and risk management. The issuance of the first licenses is viewed not as an endpoint, but as the beginning of a broader expansion of Hong Kong’s stablecoin ecosystem.

Odaily星球日报04/10 09:56

After Two Years and 36 Applicants Narrowed to 2! Hong Kong's First Batch of Stablecoin Licenses Issued, HSBC and Standard Chartered Successfully Break Through

Odaily星球日报04/10 09:56

Hong Kong Freezes Stablecoin Rollout, Leaving HSBC, Standard Chartered Waiting

Hong Kong has postponed the issuance of its first batch of stablecoin licenses, delaying approvals for major applicants like HSBC and Standard Chartered. The delay, attributed to money laundering concerns, may lead to stricter KYC regulations. This setback affects 36 applicants and follows mainland China's earlier crackdown on stablecoins due to regulatory and illegal activity risks. Despite initial plans to issue a small number of licenses in March, the Hong Kong Monetary Authority (HKMA) has not yet granted any approvals. The article also notes similar regulatory delays in South Korea, while Japan and the U.S. have advanced their stablecoin frameworks. The stablecoin market cap remains strong at $316 billion, a new all-time high. Bitcoin is trading around $68,700, down 4% over the week.

bitcoinist04/02 07:01

Hong Kong Freezes Stablecoin Rollout, Leaving HSBC, Standard Chartered Waiting

bitcoinist04/02 07:01

Hong Kong Stablecoin Licensing Delayed as HKMA Holds Back Approvals

The Hong Kong Monetary Authority (HKMA) has delayed the issuance of HKD stablecoin licenses, missing its previously announced March deadline. Despite initial commitments from officials, including Financial Secretary Paul Chan, no approvals have been granted as the HKMA continues its review process. This delay has created uncertainty regarding the pace of regulatory implementation in Hong Kong’s financial system. Institutions such as HSBC and a Standard Chartered-Animoca Brands joint venture are reportedly among the front-runners for licenses, owing to their integration with the existing monetary framework. HKMA Chief Executive Eddie Yue drew parallels between stablecoins and historical forms of private money, emphasizing their role in digital finance. The postponement reflects broader challenges in transitioning from regulatory planning to real-world execution in digital asset ecosystems. Analysts suggest the cautious approach aims to ensure systemic stability and compliance. The absence of a new timeline indicates a focus on thorough evaluation rather than rushed implementation, with significant implications for Hong Kong’s position in global digital finance.

TheNewsCrypto04/01 07:33

Hong Kong Stablecoin Licensing Delayed as HKMA Holds Back Approvals

TheNewsCrypto04/01 07:33

HSBC, Standard Chartered To Receive First Stablecoin Licenses In Hong Kong – Report

Hong Kong is expected to issue its first stablecoin licenses within two weeks, with HSBC and Standard Chartered reportedly among the first recipients. The Hong Kong Monetary Authority (HKMA) is prioritizing institutions already authorized to issue banknotes, favoring them for their strong capital base and ability to ensure safety and adoption. The Stablecoins Ordinance, enacted last August, requires any issuer of fiat-referenced stablecoins, especially HKD-denominated tokens, to obtain a license. Standard Chartered, in a joint venture with Animoca Brands and HKT, plans to issue an HKD-pegged stablecoin and has participated in the HKMA’s sandbox program. HSBC, though not part of the sandbox, has engaged with digital asset players and focused on tokenization projects. The move comes as China tightens restrictions on virtual assets and tokenization domestically, positioning Hong Kong as a regulated testing ground for financial innovation and a gateway for Chinese assets on the blockchain.

bitcoinist03/14 09:01

HSBC, Standard Chartered To Receive First Stablecoin Licenses In Hong Kong – Report

bitcoinist03/14 09:01

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

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.

TheNewsCrypto03/13 09:33

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

TheNewsCrypto03/13 09:33

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