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The Hong Kong Monetary Authority (HKMA) has granted stablecoin issuer licenses to Standard Chartered and HSBC under the newly implemented Stablecoins Ordinance, with approvals taking immediate effect.
Both institutions are expected to roll out stablecoins in the second half of 2026, targeting use cases such as cross-border payments, domestic transactions, and digital asset trading.
HKMA Chief Executive Eddie Yue described the move as a key milestone, emphasizing the importance of balancing innovation with user protection and risk management. Deputy Chief Executive Daryl Ho added that future licenses will be issued cautiously and in limited numbers.