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Hong Kong First Stablecoin Licenses Expected March 24 for HSBC and Standard Chartered

HKMA confirms HSBC and Standard Chartered will receive Hong Kongs first stablecoin issuer licenses by March 24, 2026. The milestone marks implementation of the Stablecoins Ordinance (effective August 2025). Only 3-4 licenses will be issued in the first batch from 36 formal applications. The development positions Hong Kong ahead of Singapore and rivals US progress on stablecoin regulation.

High impact🇭🇰 Hong KongStablecoinLicensingUSDTUSDC

APAC FINSTAB analysis

For APAC operators, this creates a high-impact signal around stablecoin, licensing in Hong Kong. Protocols/assets in scope: USDT, USDC. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

View related Stablecoin tracker page →

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APAC FINSTAB analysis → Original source ↗

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APAC FINSTAB analysis → Original source ↗

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High impact🇭🇰 Hong KongRegulationLicensingExchange
APAC FINSTAB analysis → Original source ↗