The Hong Kong Monetary Authority is expected to grant stablecoin licenses to major international banks HSBC and Standard Chartered, according to a report by the South China Morning Post, citing people familiar with the matter.
The move would mark a significant step in Hong Kong’s efforts to establish a regulated framework for stablecoins and expand its role as a regional hub for digital asset innovation.
According to the report, the two banks are expected to be included in the first batch of institutions approved to issue stablecoins under the upcoming regulatory regime. Authorities are reportedly prioritizing institutions that already have authorization to issue banknotes in Hong Kong, a category that includes HSBC and Standard Chartered.
Both banks are among the three commercial institutions permitted to issue Hong Kong dollar banknotes, alongside the Bank of China (Hong Kong)
Regulators are believed to view these established institutions as suitable early participants due to their existing oversight structures, financial stability, and deep integration into the city’s monetary system.
Hong Kong authorities have been developing a comprehensive regulatory framework for stablecoins as part of a broader strategy to support digital asset innovation while maintaining financial stability and investor protection.
Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to traditional currencies or other assets. Regulators globally are increasingly focusing on stablecoin oversight because of their growing role in payments, trading, and cross-border financial transactions.
Under the planned framework, licensed issuers will be required to meet strict requirements related to reserve backing, transparency, risk management, and operational safeguards.
The potential involvement of large international banks such as HSBC and Standard Chartered could signal a shift toward greater institutional participation in stablecoin issuance.
Analysts say that allowing established financial institutions to issue regulated stablecoins could strengthen trust in digital payment systems and accelerate the adoption of blockchain-based settlement infrastructure.
If implemented, the initiative would further reinforce Hong Kong’s ambitions to position itself as a leading global center for digital asset development while balancing innovation with robust financial regulation.
Your web3 identity + services + payments in one single link. Get your pay3.so link today.
Articles similaires
Conseiller économique de la Maison-Blanche Hassett : Les pétroliers commencent à traverser le détroit d'Ormuz, le conflit iranien se terminera en quelques semaines
L'armée de défense israélienne lance une vaste campagne de frappes aériennes contre l'Iran
Trump lance un groupe de travail fédéral anti-fraude dirigé par J.D. Vance
Les traders de change achètent massivement des options de couverture pour faire face aux risques de volatilité extrême provoqués par la situation au Moyen-Orient
Enquête de Bank of America : le sentiment des investisseurs s'est assombri en mars, mais moins que lors de l'impact des tarifs d'avril 2025