According to Hong Kong government statement, the Monetary Authority granted stablecoin issuer licenses to two bank-backed institutions in April 2026. Based on their business plans, regulated stablecoins are expected to launch mid-to-late this year.
The government said it has notified unregulated entities operating stablecoin businesses of legal requirements and will continue monitoring. It also plans to submit legislation to the Legislative Council this year establishing a regulatory framework for virtual asset trading, custody, advisory, and management service providers.