Hong Kong Authorities Accelerate Review of 36 Stablecoin License Applications Ahead of March

CafeMinor · 2026-02-14T21:04:29+00:00

Hong Kong's Monetary Authority is critically evaluating 36 stablecoin license applications, emphasizing quality over quantity. The process includes thorough verification and requests for additional information, aiming for a cautious issuance of licenses by March.

CafeMinor

2026-02-14 21:04:29

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Hong Kong Monetary Authority (HKMA) is currently in a critical phase evaluating the first wave of stablecoin license applications. With the deadline approaching in March, regulatory authorities have intensified the verification process for dozens of applicants submitting in this initial round.

Abundant Applications, HKMA Conducts Strict Screening

In the first round of submissions, HKMA received a total of 36 stablecoin license applications. This number indicates strong industry enthusiasm for the new stablecoin regulations in Hong Kong. However, HKMA CEO Eddie Yue emphasized that the number of applications does not mean all will be approved. The authority has set strict standards to ensure only high-quality applicants can proceed to the next stage.

Authority Requests Additional Information for Comprehensive Verification

HKMA is currently conducting an in-depth evaluation of each application. For several applicants, the authority has sent requests for additional information necessary for further verification. The initial information submitted by applicants generally only includes basic data required for the first stage. More detailed verification is needed in critical areas, including operational scenarios of the application, comprehensive risk management arrangements, and the composition and structure of the reserve assets backing the stablecoin.

Target Setting: First Batch of Licenses in March with Careful Selection

HKMA has set a target to complete the first batch of licenses by March, provided all requested information has been submitted by applicants. However, Eddie Yue emphasized that the number of licenses issued in the first batch will be significantly limited. The authority is adopting a cautious and prudent approach, prioritizing the quality of applicants over the quantity of licenses issued. This strategy reflects HKMA’s commitment to building a stable and trustworthy stablecoin ecosystem in Hong Kong.

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