FINANCE

Hong Kong Targets First Stablecoin Licenses in March

Published: Feb. 2, 2026 4:48 p.m. GMT+8

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The Hong Kong Monetary Authority. Photo: VCG

Hong Kong aims to issue its first batch of stablecoin issuer licenses in March, with an official saying that only a small number of applicants will be approved initially.

The Hong Kong Monetary Authority (HKMA) is assessing applications and has requested additional information from some applicants, including details on use cases, risk controls and reserve asset composition, Chief Executive Eddie Yue said Monday. The authority will prioritize stability and security.

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Hong Kong plans to issue its first stablecoin issuer licenses in March, initially approving only a small number.
The HKMA is evaluating 36 applications from various sectors, focusing on stability and security.
The move follows the August Stablecoins Ordinance to regulate digital assets, with major firms like Standard Chartered and Jingdong Coinlink participating.

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Who’s Who

Standard Chartered Bank (Hong Kong) Ltd.: Standard Chartered Bank (Hong Kong) Ltd. is one of Hong Kong's three note-issuing banks. It is considered a strong contender for a stablecoin issuer license, having joined the Hong Kong Monetary Authority's (HKMA) stablecoin sandbox in mid-2024. The HKMA is currently assessing applications, with initial licenses expected in March.

JD.com Inc.: JD.com Inc. (Jingdong) is associated with Jingdong Coinlink Technology Hong Kong Ltd., which has applied for a stablecoin issuer license in Hong Kong. Despite rumors, the company has not withdrawn its application. The Hong Kong Monetary Authority is currently assessing these applications.

Jingdong Coinlink Technology Hong Kong Ltd.: Jingdong Coinlink Technology Hong Kong Ltd. is a JD.com Inc.-backed company mentioned in the article. Despite market rumors, it has not withdrawn its application for a stablecoin issuer license in Hong Kong. The Hong Kong Monetary Authority is currently assessing applications from 36 institutions, and Jingdong Coinlink is among them.

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What Happened When

Mid-2024：: Standard Chartered Bank (Hong Kong) Ltd. joined the HKMA’s stablecoin sandbox.

August 2025：: Stablecoins Ordinance was implemented in Hong Kong.

By September 30, 2025：: The HKMA received applications from 36 institutions for the stablecoin issuer license.

Monday, February 2, 2026：: HKMA Chief Executive Eddie Yue stated that the authority is assessing applications and requested additional information from applicants.

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