"36 to 2! Hong Kong's First Stablecoin Licenses Announced, HSBC and Standard Chartered Joint Venture Successfully Approved" (Author: angelilu | Foresight News)


On April 10, the Hong Kong Monetary Authority announced the first batch of stablecoin licenses, with only 2 out of 36 applications approved, an approval rate of about 5%.
HSBC and Standard Chartered's joint venture (Anchorpoint) both made the cut, while major tech companies and new Web3 players were all rejected.
Hong Kong's stablecoin regulation demonstrates a high threshold for fund security, 100% fiat reserve, and independent custody, strictly limiting stablecoins to payment and settlement infrastructure.
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