Hong Kong Grants First Stablecoin Licenses to HSBC and StanChart
The HKMA approved HSBC and a Standard Chartered venture to issue fiat-backed stablecoins. This marks a key step in the city's regulated digital currency push.
Hong Kong has officially issued its first batch of licenses for fiat-backed stablecoins, marking a significant step in the city's strategy to develop regulated digital currencies for global finance and trade. The Hong Kong Monetary Authority (HKMA) announced on Friday that it has approved HSBC HOLDINGS PLC and a joint venture led by STANDARD CHARTERED PLC to issue stablecoins backed by the Hong Kong dollar. These approvals were granted under the city's new stablecoin regulatory regime, which became effective in August 2025. The framework aims to provide a secure and transparent environment for digital asset innovation while ensuring that all issued tokens are fully collateralized by fiat currency. By involving major financial institutions like HSBC Holdings PLC and Standard Chartered PLC, the HKMA is reinforcing the region's position as a hub for regulated digital finance.
