✨Hong Kong is gradually implementing stablecoin regulation with the vision of making the digital asset ecosystem a global hub. The licensing regime, which came into effect on August 1, 2025, under the Stablecoins Ordinance , subjects fiat-referenced stablecoin (FRS) issuers to the supervision of the Hong Kong Monetary Authority (HKMA). This regime covers both Hong Kong-based and foreign entities issuing stablecoins pegged to the Hong Kong Dollar. The most frequently asked question is about the official "Register of Licensed Stablecoin Issuers" list: Currently, this list is completely empty. The HKMA's own website explicitly states: "Currently, there is no licensed stablecoin issuer. This list will be updated in a timely manner as appropriate." The last revision date is July 29, 2025.

✨This situation leaves many investors and fintech companies wondering, "When will the first licenses arrive?" However, official statements and recent developments indicate that the turning point is very close. HKMA CEO Eddie Yue stated in February 2026 that they would be issuing a very small number of licenses in March. Financial Secretary Paul Chan also confirmed this date in his 2026-27 budget speech. The HKMA states that it has received more than 36 official applications and that the reviews are nearing completion. This is a concrete reflection of Hong Kong's "tighten first, then expand" strategy: prioritizing stability while giving priority to banking-heavy and high-capital institutions.
✨In the last 24-48 hours, local media outlets such as Sing Tao Daily and The Standard have written that Standard Chartered, HSBC, and OSL Group may be among the first batch. OSL shares rose more than 7% on this news. However, an HKMA spokesperson maintained official silence, stating, "We do not comment on market rumors." Importantly, since the official registry is still empty, no institutions are yet licensed. This reinforces the news that “an announcement may come next week” – the first names could be revealed in the second half of March 2026.
✨ #HongKongStablecoinIssuerLicenseList currently looks like a blank page, but this void is temporary. March 2026 will be a turning point in Hong Kong’s stablecoin history. When the first licenses are announced – likely led by bank consortia and JD Coinlink – the list will quickly fill up, solidifying Hong Kong’s position as Asia’s regulated stablecoin hub. Advice for investors and companies: closely follow the HKMA’s official registration; the transition period (until January 31, 2026 for pre-existing issuers) is about to end. This development offers a “safe and innovative” model not only for Hong Kong but also for the global crypto ecosystem. The list will change instantly when the first license announcement arrives!