The Hong Kong Monetary Authority issues the first batch of stablecoin issuer licenses; HSBC and Standard Chartered Bank are among those prominently listed

On April 10, the Hong Kong Monetary Authority (HKMA) announced that, in accordance with the Stablecoin Ordinance (Chapter 656), it has officially granted stablecoin issuer licenses to Dingdian Financial Technology Limited and The Hongkong and Shanghai Banking Corporation Limited, effective on the same day.

It is worth noting that Dingdian Financial Technology was established as a joint venture by Standard Chartered Bank (Hong Kong) Limited, Hong Kong Telecom (HKT) Limited, and Animoca Brands Limited.

According to the plans of these two licensed institutions, after they complete their internal preparations, they are expected to officially begin stablecoin issuance operations within the coming months. Among them, Standard Chartered’s license number is FRS01, while HSBC’s license number is FRS02.

HKMA Chief Executive Officer Yu Weiw en stated that the regulatory regime established by HKMA is aimed at creating a compliant and orderly operating environment for stablecoin issuers, laying a solid safety foundation for the industry’s development, and driving Hong Kong’s stablecoin ecosystem toward a healthy, responsible, and sustainable direction.

HKMA has set up a licensed stablecoin issuer registry on its official website, containing a detailed, up-to-date list of licensed issuers and related information. This move provides the public with a convenient way to search, ensuring transparency and accessibility of market information.

When the public actually participates in the stablecoin market, they need to remain sufficiently vigilant. If they need to verify the lawful identity of an issuer, they can do so by consulting the registry provided by HKMA, thereby ensuring their own rights and interests are effectively protected.

#香港金管局 # stablecoin license