Hong Kong to enable licensing of stablecoins, system to be launched by March 2026

ZKProofEnthusiast · 2026-02-14T02:10:35+00:00

The HKMA is establishing a licensing framework for stablecoin issuers, expected to begin by March 2026. With 36 applications already submitted, the interest from the industry is high. The HKMA plans to license a limited number of firms initially, monitoring the market closely to ensure stable growth and minimize regulatory risks.

ZKProofEnthusiast

2026-02-14 02:10:35

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The Hong Kong Monetary Authority (HKMA) is establishing a new regulatory framework for finance. By March 2026, it plans to introduce the first licensing system for stablecoin issuers. According to NS3.AI, there have already been 36 license applications submitted to the authorities, indicating high industry interest.

36 Applications Flood in for Stablecoin Regulations

The HKMA’s move to thoroughly review stablecoin businesses is driven by the expansion of the cryptocurrency market and increasing regulatory needs. The fact that 36 applications have already been submitted shows the strong expectations from issuing companies and financial institutions. Regulatory authorities are responding to the high interest from market entrants by developing a systematic licensing process.

Gradual Licensing Strategy

However, the HKMA does not intend to approve all applications at once. In the initial phase, only a limited number of licenses will be granted, with a cautious approach to market trends. This strategy aims to ensure stable growth of the stablecoin market while minimizing regulatory risks. The start of licensing in March 2026 is expected to mark a turning point for Hong Kong’s cryptocurrency regulations.

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