Hong Kong to Begin Issuing Stablecoin Licenses in March Under New Framework

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Hong Kong is ready to issue its first stablecoin issuer licences in March 2026, Financial Secretary Paul Chan Mo-po confirmed at the CoinDesk Consensus Hong Kong 2026 summit. 

In a statement, the Financial Secretary said:

We see stablecoins as a practical tool for addressing the pain points in the real economy, particularly in payments and settlements. In giving out licences, we ensure that licensees have real-world use cases, a credible and sustainable business model, as well as strong regulatory compliance capabilities. Our strategy is moving forward fast, step by step. Therefore, we plan to issue only a small number of stablecoin issuer licences in the first batch in March this year.

This follows the passage of the Stablecoins Ordinance, which took effect in August 2025, requiring any entity issuing fiat-referenced stablecoins within the city or pegged to the Hong Kong dollar abroad to obtain approval from the Hong Kong Monetary Authority (HKMA).

Chan also highlighted Hong Kong’s “consistent, predictable, forward-looking” policies with regard to emerging trends such as the tokenization of real-world assets (RWAs), the interaction between TradFi and DeFi architectures, and the intersection between AI and digital assets. 

Meanwhile, Hong Kong plans to regularize the issuance of tokenized green bonds and is finalizing its new licensing regime for digital asset dealers and custodian service providers, aiming to introduce the relevant legislation for the summer of 2026. 

Chan noted about Hong Kong’s further plans: “Looking ahead, as the convergence of AI and blockchain continues to accelerate, the Government and our regulators will work with the industry to foster concrete, high-impact use cases, while ensuring that emerging risks are properly identified, monitored and managed.”