Hong Kong Grants Stablecoin Licenses to Two Banking-Backed Firms, Expected Launch Mid-to-Late 2026

According to Hong Kong government's written reply to the Legislative Council, the Hong Kong Monetary Authority granted stablecoin issuer licenses to two banking-backed institutions in April 2026. Based on their current business plans, regulated stablecoins in Hong Kong are expected to launch between mid and late 2026. The government stated it has informed unregulated stablecoin issuers of legal requirements and will continue monitoring; individual cases may be referred to police or the Department of Justice if necessary. Hong Kong plans to submit legislation to the Legislative Council this year to establish regulatory frameworks for virtual asset trading, custody, advisory, and asset management service providers.
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