Home / Business and Economy / HKMA Approves First Fiat-Backed Stablecoin Licenses
HKMA Approves First Fiat-Backed Stablecoin Licenses
10 Apr
Summary
- Hong Kong issued its first stablecoin licenses.
- HSBC and a Standard Chartered venture received approval.
- New stablecoin regime took effect in August 2025.
The Hong Kong Monetary Authority (HKMA) has officially granted its first licenses for fiat-backed stablecoins. This development marks a crucial advancement in Hong Kong's strategic initiative to establish itself as a hub for regulated digital currencies within the global financial landscape.
HSBC and a joint venture involving Standard Chartered are among the first entities to receive approval. They are now authorized to issue stablecoins pegged to the Hong Kong dollar. This significant step aligns with the city's new stablecoin regulatory regime, which officially came into effect in August 2025.
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