Hong Kong Money Authority to Grant First Stablecoin Licenses in March

The Hong Kong Money Authority (HKMA) plans to issue its first Stablecoin Issuer Licenses in March.

According to a report from Reuters, HKMA chief executive Eddie Yue told members at a meeting of the legislative council on Feb. 2 that the central bank expected to issue a “very small number” of licenses in March, though no specific date or further information regarding the potential licensees was given.

The HKMA had previously revealed that it received 36 completed applications for Stablecoin Issuer Licenses prior to an Aug. 1, 2025, deadline. There doesn’t appear to be a public record noting which organizations have applied for licensing, however Animoca Brands and Standard Chartered announced the launch of Anchorpoint Financial Limited, a joint stablecoin venture, in a post on Twitter stating that the new organization had submitted its application with the HKMA on Aug. 1, 2025.

Regulatory Regime for Stablecoin Issuers

Hong Kong’s financial markets are in the midst of a radical transition as the HKMA, Financial Services and the Treasury Bureau, and the Securities and Futures Commission have all begun enacting sweeping regulatory changes.

As Coinspeaker recently reported, the Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) seek an overhaul to Hong Kong’s crypto custody laws. The two regulatory bodies recently closed a January consultation period with plans to introduce legislation in 2026 seeking to bring over-the-counter (OTC) desks, brokers, and asset custodians under the same regulatory umbrella as licensed trading platforms.

Meanwhile, the SFC recently outlined strict expectations for all licensed virtual asset trading platforms (VATPs). The SFC says this will create a strong foundation for Hong Kong’s digital assets market in adherence with the commission’s roadmap.

The HKMA also has a roadmap featuring over 40 initiatives across the areas of data infrastructure, artificial intelligence, resilience, and tokenization of finance.

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