Hong Kong Stablecoin Licenses in Focus as Regulators Shape Crypto Licensing

HK’s first stablecoin issuer licenses are expected this month with major banks on the shortlist, as TOKEN2049 is postponed to 2027 after a DIFC drone incident.

Rich by Coin

2026-03-15

Hong Kong’s first batch of stablecoin issuer licenses is expected to be announced this month. Sources stated that Standard Chartered, HSBC, and licensed virtual asset exchange OSL are on the shortlist for the first batch, which could be released as early as next week, though the list remains subject to change. Previously, there were about 5 candidate institutions, and the final list may be narrowed down to 3. Regulators may prioritize banking institutions to ensure stability and market confidence.

No Chinese-funded institutions are rumored to be included, and firms such as Circle Technology and LianLian Digital may not be on the initial list. The Hong Kong Monetary Authority said it does not comment on market rumors.

The Dubai TOKEN2049 Summit, originally scheduled for April 29–30, 2026, was announced today to be postponed to April 21–22, 2027. On Friday morning, a building in the Dubai International Financial Centre (DIFC) was struck by debris from an intercepted drone, marking the second incident near the center that day.

Hong Kong is poised to unveil its first batch of stablecoin issuer licenses this month. Sources indicate Standard Chartered, HSBC, and licensed virtual asset exchange OSL are among the leading candidates for the initial cohort, which could be released as early as next week. The pool has previously included about five candidates, with expectations that the final shortlist may be trimmed to three as regulators prioritize banking institutions to reinforce stability and market confidence. Officials say the decision aims to bolster consumer protection and systemic resilience, with banks favored to support ongoing settlement and liquidity.

There is no indication that Chinese-funded institutions will be included in the first batch, and firms such as Circle Technology and LianLian Digital may be excluded from the initial list. The Hong Kong Monetary Authority stressed it does not comment on market rumors.

Separately, TOKEN2049 in Dubai has been postponed from April 2026 to April 2027. The postponement follows a disruption near the Dubai International Financial Centre after debris from an intercepted drone struck a building, marking the second incident near the center on the same day.