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Hong Kong targets March for first stablecoin licenses after receiving 36 applications

Hong Kong's monetary authority has received 36 applications for stablecoin issuer licenses and aims to grant the first batch in March, Beijing Business Today reported on Feb. 4. The review will focus on risk management, including use cases, reserve asset allocation, and cross-border compliance; applicants with operations in mainland China, Singapore, London, or ASEAN must meet local regulatory requirements. Industry participants said the first licenses could support a compliant stablecoin ecosystem and cross-border payments, while the authority warned against illegal activities using "stablecoin" as a front and advised avoiding unlicensed products.
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