Particle.news
Download on the App Store
6 ARTICLES
·
4h ago

Hong Kong Launches Stablecoin Licensing Regime as Application Window Opens

Expressions of interest must be filed by August 31 with full applications due September 30 for licences that the HKMA plans to award early next year under stringent capital and governance standards.

Image
Hong Kong
Source: Shutterstock
Many local, mainland Chinese, regional and global players have expressed interest in applying for stablecoin licences. Photo: Shutterstock

Overview

  • The Stablecoins Ordinance took effect on August 1, requiring any firm issuing or marketing fiat-pegged tokens to retail investors to hold a licence from the Hong Kong Monetary Authority.
  • Firms must signal interest by August 31 and submit detailed licence applications by September 30 to enter the first approval round.
  • HKMA expects to grant only a handful of licences in early 2026 to filter participants and safeguard the regime’s long-term stability.
  • Applicants must meet bank-style requirements including at least HK$25 million in paid-up capital, full reserve backing, AML protocols, client fund segregation and guaranteed redemptions.
  • The framework underpins Hong Kong’s strategy to strengthen its global digital asset hub status, with a focus on cross-border B2B payments and robust prudential safeguards.