Hong Kong expects to license stablecoin issuers in early 2026

Hong Kong expects to grant its first stablecoin issuance licenses in early 2026, prioritizing applicants with sound reserve management, price stability mechanisms, and anti-money laundering measures, said Christopher Hui, the city's Secretary for Financial Services and the Treasury. According to the Hong Kong Economic Journal, Hui noted that 36 applications from various sectors had been received as of the end of September this year. He added that the review process will focus on foreign exchange reserve management and AML compliance. Previously, the Hong Kong Monetary Authority (HKMA) stated in October that it would review and approve applications based on new regulatory requirements as the city’s stablecoin ordinance came into effect.