Hong Kong is preparing to roll out its first stablecoin issuer licenses as regulators move closer to final approval under the city’s new digital asset framework.
The Hong Kong Monetary Authority (HKMA) said its review of stablecoin license applications is nearly complete, with the first batch of approvals targeted for March. Chief Executive Eddie Yue confirmed the timeline while speaking at a Legislative Council meeting on Monday.
Yue said the regulator plans to issue only a very small number of licenses initially, signaling a cautious and tightly controlled launch of the stablecoin regime.
The move is part of Hong Kong’s broader push to position itself as a regulated hub for digital assets, balancing innovation with financial stability and investor protection.
Market participants are closely watching which firms may receive early approval, as licensed stablecoin issuers are expected to play a key role in payments, tokenized assets, and on-chain settlement across Asia.
