Hong Kong’s first batch of stablecoin issuer licenses are expected to be announced as early as next week, with HSBC, Standard Chartered, and OSL leading the race. Chinese-funded companies are absent, and regulators seem to favor bank-led issuance.
According to media reports, the list of the first “stablecoin issuer licenses” in Hong Kong is expected to be announced this week. After an intense competition among the initial 36 applicants, market rumors suggest that three companies are most likely to receive licenses: HSBC, Standard Chartered, and Hong Kong’s first licensed virtual asset platform, OSL.
Bloomberg quoted sources saying that this round of stablecoin licensing may lean more toward “bank-led” issuance because banks are heavily regulated, have strong capital reserves, and can provide higher security while promoting widespread market adoption.
As for OSL, which is also among the contenders, its credentials are equally impressive. As Hong Kong’s first licensed virtual asset trading platform, OSL has extensive experience in tokenization and the capacity to handle large transactions with traditional institutions like funds.
Regarding market rumors, HSBC did not respond to media requests for comment in time; Standard Chartered declined to comment. An HKMA spokesperson stated, “We do not comment on market rumors.”
Although the market currently suggests that three companies are most likely to obtain licenses, industry insiders reveal that initially five institutions were on the candidate list. Due to the rigorous licensing process, the final list may still change.
Among the rumored candidates, 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 HKMA chief executive Norman Chan—missed the initial launch.
Additionally, no “Chinese-funded” institutions are on the list. In fact, the Financial Times reported last year that Chinese tech giants like Alibaba’s Ant Group and JD.com have suspended plans to issue offshore RMB stablecoins in Hong Kong. The main reason is that the People’s Bank of China (PBOC) fears that private stablecoins could challenge the digital yuan (e-CNY) that Beijing is actively promoting.
- This article is reprinted with permission from “BlockBeats”
- Original title: “Hong Kong’s First Batch of ‘Stablecoin Licenses’ Coming Soon! Rumors Point to ‘HSBC, Standard Chartered, and OSL’”
- Original author: Block Sister MEL
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
Ice Open Network suffers a data leak by an insider, and after the ION token plunged, it reorganized to survive
Ice Open Network posted on X on April 20, confirming that a data breach occurred last week. The cause was that after four business partners terminated their business relationship with a third-party service provider, they still accessed external servers, leaking users’ email addresses, 2FA phone numbers, and identity-linked data. The background of this incident is that the ION token had already crashed by 93% two weeks ago, and the project team is in a period of large-scale emergency restructuring.
MarketWhisper23m ago
Tencent QClaw Overseas Version Starts Beta Testing, Japan Offers $700 Token for Early Access
Tencent Computer Manager’s AI agent product QClaw, under the company’s team, announced on April 20 that its overseas version has officially started internal testing. The first batch covers the United States, Canada, Singapore, and South Korea, supporting multiple languages including Chinese, English, French, Spanish, and Korean. During the internal testing period, 40 million Tokens are given away each day, and the first batch of 20,000 slots for “Founding Claw” is also opened on a first-come, first-served basis.
MarketWhisper1h ago
SEALCOIN early access campaign “Spacedrop,” building an on-chain ecosystem experience for satellite infrastructure foundations
SEALCOIN officially launches an early-access campaign called “Spacedrop.” This is a user onboarding program that allows users to participate before fully going live across the ecosystem. The event emphasizes an interactive experience, helping users understand how it works through completing tasks and earning points, among other methods. The project combines satellite communications and blockchain technology, focusing on secure interaction of infrastructure, and aims to drive market expansion. The campaign is now open for participation.
ChainNewsAbmedia1h ago
Pharos releases PROS tokenomics, with a 6% airdrop and zero inflation in the first six months before staking
Layer 1 chain Pharos announced its native token PROS tokenomics framework on April 21. The total supply of PROS is 1 billion coins, including a 6% air drop. The core team and investors are subject to 12 months of lockup plus 36 months of linear release. The staking inflation policy is split into two phases: 0% for the first six months before the mainnet launches, then 5% per year starting in the seventh month; afterward, the foundation will dynamically adjust it based on the network’s operating conditions.
MarketWhisper4h ago
Pharos Releases PROS Tokenomics: 1 Billion Total Supply With 6% Community Allocation
Pharos has announced the tokenomics for its PROS token, with a total supply of 1 billion. Allocations include 16% for the Foundation Treasury, 9% for Lab Co. Treasury, and a 12-month lock-up for team and investors. The token will be used for various applications, with a phased inflation policy starting at 5% after six months.
GateNews4h ago
Pokémon card tokenization weekly revenue nearing 5.4 million, Courtyard validates the viability of RWA collectibles
For the week ending April 6, the tokenized Pokémon Trading Card Game market’s weekly revenue grew to $5.38 million, slightly below the all-time high recorded in September 2025. The approach toward a near-new peak is structurally different this time: the September 2025 peak was concentrated in a single week from the Collector Crypt TGE, while the current high point comes from organically accumulating for six consecutive weeks, with the Courtyard platform as the primary contributor.
MarketWhisper5h ago
