Hong Kong to issue first stablecoin licenses in Q1

Hong Kong plans to issue its first licenses for stablecoin issuers in the first quarter of this year, according to The Block. Speaking at the World Economic Forum in Davos, Hong Kong's Financial Secretary Paul Chan described the city's crypto framework as responsible and sustainable. He added that Hong Kong intends to create a comprehensive digital financial ecosystem that encompasses stablecoins, exchanges, and asset tokenization.