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Hong Kong regulator stays cautious on more stablecoin issuer licenses

Hong Kong regulator stays cautious on more stablecoin issuer licenses

The authority dismissed speculation about more approvals around National Day and is prioritizing the first two licensees before deciding whether to widen Hong Kong's stablecoin issuer roster.

Fact Check
The claim is directly confirmed by multiple independent sources dated August 6, 2026, all tracing back to an HKMA spokesperson statement (originally reported by Cailianshe/财联社). PANews and Odaily report that market rumors pointed to a second batch of stablecoin issuer licenses landing around National Day (Oct 1), which HKMA declined to comment on, describing its stance as 'open but cautious' with no clear direction. CoinNess corroborates in English that the HKMA's current focus is helping the two licensed institutions complete their launch/operational preparations. Every element of the claim—regulator caution, National Day timing chatter, and priority on two licensed issuers—is supported.
Summary

Hong Kong Monetary Authority said it remains open but cautious on granting additional stablecoin issuer licenses, pushing back on market speculation that a second batch could arrive around National Day in early October. The regulator said its immediate priority is getting the first two licensees, HSBC and Anchorpoint Financial, ready for launch and assessing how their products perform before expanding the field. Hong Kong passed its Stablecoins Ordinance in May 2025, with the law taking effect on August 1, 2025, and introduced the licensing regime in March 2026 after drawing 36 formal applicants. In April 2026, the HKMA awarded the first two licenses to HSBC and Anchorpoint Financial, a joint venture between Standard Chartered, HKT, and Animoca Brands. Both are planning Hong Kong dollar-referenced tokens aimed at cross-border payments and institutional settlement. The authority said future decisions will depend on application quality, market demand, real-world use cases and international regulatory trends, underscoring a strategy that favors a tightly controlled, bank-grade stablecoin market over rapid expansion.

Terms & Concepts
  • stablecoin: A digital token designed to maintain a stable value by referencing an asset or currency.
  • cross-border payments: Transfers of money between parties in different countries, often a target use case for tokenized payment systems.
  • tokenized RWA ecosystems: Markets and platforms built around real-world assets represented as digital tokens.