HSBC and Standard Chartered Set to Become First Licensed Stablecoin Issuers in Hong Kong

Hong Kong Prepares First Stablecoin Licenses

HSBC Holdings and a joint venture led by Standard Chartered are reportedly among a very small group of institutions likely to receive the first stablecoin issuer licenses in Hong Kong. The move comes as part of the Hong Kong Monetary Authority’s (HKMA) broader plan to establish the city as a leading hub for regulated digital assets.

The HKMA has emphasized that initial licenses will likely go to banks already authorized to issue banknotes in Hong Kong. HSBC, Standard Chartered, and the Bank of China hold such authorizations, positioning them as prime candidates for the first approvals. Local sources indicate the licenses could be issued around March 24, 2026, though the HKMA has not publicly confirmed the details.

Regulatory Framework and Market Implications

The approvals will follow the Stablecoin Ordinance and Industrial and Commercial Bank of China.

If finalized, these licenses will provide a compliant framework for banks to issue stablecoins, paving the way for regulated cross-border digital asset services in Hong Kong.

Disclaimer

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