In Hong Kong, the stablecoin licensing regime is scheduled to begin on August 1, 2025, following the Stablecoins Ordinance passed in May 2025. This framework aims to solidify the city's position as a global digital asset hub. (Source: Reuters, June 12, 2025)
The Hong Kong Monetary Authority (HKMA) will implement a stringent licensing process, with expectations of issuing a limited number of licenses initially. Applicants must demonstrate strong capabilities in reserve asset management and compliance with anti-money laundering regulations. (Source: Reuters, June 12, 2025)
Several firms are showing interest, including Standard Chartered, in partnership with Animoca Brands and HKT, forming a joint venture for a Hong Kong dollar-backed stablecoin. Ant International, a subsidiary of Ant Group, also plans to apply for a stablecoin issuer license. (Source: Reuters, June 12, 2025)