According to media reports, Hong Kong’s first batch of “Stablecoin Issuer Licenses” is expected to be announced as early as next week. After a fierce competition among the initial 36 applicants, market rumors now suggest that three companies are most likely to be awarded licenses: HSBC, Standard Chartered, and Hong Kong’s first licensed virtual asset platform, OSL.
Bloomberg quoted informed sources as saying that this stablecoin licensing process may favor “banks,” because banks are heavily regulated, have strong capital reserves, and can provide higher security while promoting widespread market adoption.
As for OSL, which is among the rumored licensees, its background is equally impressive. As Hong Kong’s first licensed virtual asset trading platform, OSL not only has extensive experience in tokenization but also possesses the capacity to handle large transactions for traditional institutions like funds.
In response to market rumors, HSBC did not promptly comment; Standard Chartered declined to comment. A spokesperson for the Hong Kong Monetary Authority stated, “We do not comment on market rumors.”
Although it is currently rumored that three companies will receive licenses, industry insiders reveal that initially five institutions were on the candidate list. Due to the strict screening process required for licensing, the final list may still change.
Among the names circulating, only Standard Chartered is a participant in the stablecoin “sandbox.” The other two sandbox participants, JD Chain Technology (Hong Kong) and RD Technologies, founded by former Hong Kong Monetary Authority Chief Executive Officer Norman Chan, will not be part of the initial rollout.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Rakuten Pay Integrates XRP for Payments and Loyalty Use
Rakuten will integrate XRP payments for 44 million users, linking the token to over 5 million merchants in Japan. Users can convert loyalty points to XRP, facilitating everyday spending and enhancing real-world adoption of crypto.
CryptoFrontNews18h ago
Aztec Network Completes Liquidation of Public Sale ETH, Transfers Over 15,000 ETH to Major CEX
Aztec Network has completed the liquidation of 19,388.4 ETH from its December public sale, transferring the final 5,020 ETH to a major CEX. The project raised around $59.13 million, with the AZTEC token price dropping nearly 50% post-auction.
GateNews21h ago
STRC changes to paying dividends every half month! MicroStrategy founder Saylor also recommends that friends and family buy in
MicroStrategy announced that it will change the dividend payment frequency for its preferred stock STRC to every half month, while keeping the annual interest rate at 11.5%, with the aim of stabilizing the share price, improving liquidity, and increasing demand. Founder Saylor emphasized that STRC has a high Sharpe ratio of 4.5 and low volatility, recommended that friends and family invest in the stock, and said it is tax-friendly for investors in Taiwan.
ChainNewsAbmedia21h ago
XRP Goes Live on Solana as Official Wrapped Token
Ripple's XRP launched on Solana as a wrapped cross-chain asset on April 17, partnering with Hex Trust and others. This move, aimed at boosting liquidity and expanding access to Solana's DEX ecosystem, highlights Solana's growing role in cross-chain tokenization.
GateNews04-17 20:11
Sui Targets South Korea for Financial Partnerships, Plans Won-Pegged Stablecoin and Bitcoin Products
Sui, a Layer 1 blockchain project, aims to expand in South Korea by collaborating with financial institutions and technology companies. Key initiatives include developing a stablecoin pegged to the won and enhancing its developer ecosystem with the Move programming language.
GateNews04-17 14:41
Whale Purchases 4.5M LDO Worth $1.86M via OTC Following Lido Buyback Launch
Lido's LDO buyback program prompted a significant purchase of 4.5 million LDO tokens by a whale for $1.86 million, alongside 10,000 AAVE tokens for $1.15 million, sourced from Wintermute and FalconX, respectively.
GateNews04-17 09:16
