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Hong Kong May Issue Fewer Than Four Initial Stablecoin Licenses After Two Sessions

Hong Kong May Issue Fewer Than Four Initial Stablecoin Licenses After Two Sessions

According to Cailian Press, reports naming HSBC, Standard Chartered, and OSL as possible first stablecoin license recipients remain unconfirmed, with banks saying they have not received formal regulatory notice.

Fact Check
The claim accurately reflects multiple reports from Hong Kong media (HKEJ, Sing Tao Daily) and financial news agencies (Cailian Press). PANews and BlockBeats both corroborate the 'fewer than four' figure and the 'after Two Sessions' timing. Cailian Press specifically confirms that the banks mentioned (HSBC, Standard Chartered) have not received formal notice, supporting the 'unconfirmed' aspect of the rumors.
Summary

Sources previously said Hong Kong’s first stablecoin issuer license list may be released this month, with fewer than four approvals expected from 36 applications. A new report by Cailian Press said market speculation has pointed to HSBC, Standard Chartered, and OSL as possible recipients, but inquiries through HSBC and Standard Chartered’s China units produced no confirmation. One foreign bank insider also said institutions are still waiting for formal regulatory news. The Hong Kong Monetary Authority has not officially confirmed the rumored list.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, typically by being pegged to a fiat currency or other reserve asset.
  • License: A regulatory authorization that allows a company to operate a specific financial or crypto-related business under official supervision.
  • Hong Kong Monetary Authority: Hong Kong’s banking and monetary regulator, which oversees licensing and supervision in parts of the digital asset market.