Hong Kong Financial Secretary Paul Chan says the city plans to issue only a limited number of initial stablecoin licenses, underscoring a cautious rollout focused on practical use cases and risk controls.
Futu Securities and OSL Group were previously reported by Caixin to be seeking Hong Kong’s second batch of compliant stablecoin licenses. A new update adds that Financial Secretary Paul Chan said on April 13 that Hong Kong will grant only a small number of initial stablecoin licenses under a gradual regulatory approach. Chan said applicants must demonstrate real use cases, while authorities seek to balance innovation with anti-money laundering requirements and broader market risk controls.