Hong Kong's first batch of compliant stablecoin licenses has been delayed, and the HKMA has responded with full force

The first batch of issuer licenses in Hong Kong was originally scheduled to be issued in March 2026, but they did not materialize as scheduled. A spokesperson for the Hong Kong Monetary Authority responded that the HKMA is making every effort to promote licensing matters and will announce them in due course.<br /> Regarding who won the first batch of stablecin licenses in Hong Kong, the market has generally focused on HSBC and Standard Chartered Bank, the two major Hong Kong dollar note issuing banks. HSBC has not disclosed whether it has submitted an application for a stablecoin license. However, as early as mid-January this year, news spread in the market that HSBC had a better chance of obtaining the first batch of licenses. At present, the official has not clearly disclosed why the implementation of stablecin licenses has been delayed than the forecast.<br /> A person close to stablecoin license applications revealed that the Hong Kong Monetary Authority has recently been in close contact with the first batch of potential compliant licensees, and there are still suggestions for revision regarding the issue. In addition, the second batch of Hong Kong compliant stablecoin licenses is also under application. Reliable sources revealed that Futu Securities and OSL Group are both strong contenders for the second batch of licenses.