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HSBC, Standard Chartered to Receive Hong Kong's First Stablecoin Licenses

HSBC Holdings and Standard Chartered are set to be among Hong Kong's first licensed stablecoin issuers. HKMA received 36 formal applications under the Stablecoins Ordinance (effective August 2025) but will issue only 3-4 licenses in the first batch. Standard Chartered's HK unit formed a JV with Animoca Brands and HKT for a HKD-backed stablecoin. Hong Kong requires reserves backed exclusively by High Quality Liquid Assets with T+1 par redemptions.

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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Invesco Files Tokenized Stablecoin Reserve Fund With SEC

Invesco filed to add the Invesco Stablecoin Reserves Onchain Fund to its Short-Term Investments Trust, with onchain shares intended to qualify as stablecoin reserve assets under the GENIUS Act framework. The filing shows large asset managers building regulated tokenized Treasury infrastructure for payment-stablecoin issuers.

High impact🇺🇸 United StatesStablecoinTokenizationRegulation
APAC FINSTAB analysis → Original source ↗