Hong Kong grants first stablecoin licences to StanChart joint venture, HSBC

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HONG KONG, April 10 : Hong Kong has issued its first batch of licences for fiat-backed stablecoins, marking a major step in the city's push to develop regulated digital currencies in global finance and trade.

The Hong Kong Monetary Authority (HKMA) said on Friday it had approved HSBC and a joint venture by Standard Chartered to issue stablecoins backed by the Hong Kong dollar under the city's new stablecoin regime, which came into effect in August 2025.

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