Hong Kong is preparing to officially roll out its legal framework for stablecoins, with plans to issue its first stablecoin licenses in early 2026. This move marks a significant step in Hong Kong's ambition to become a leading digital finance and digital asset hub in Asia.
Under the new regulatory framework, stablecoins will be supervised based on the principle of "same activity, same risk, same regulation." This means that stablecoin issuers must meet governance, risk management, Capital , and compliance standards equivalent to traditional financial institutions, instead of being classified as mere technology products.
Several businesses are considered likely to receive licenses early, including Anchorpoint Financial – a joint venture associated with Standard Chartered, HashKey Group, and RD InnoTech. These organizations have all prepared their infrastructure, compliance, and positioning within the Hong Kong digital asset ecosystem.
Notably, Hong Kong's stablecoin framework represents an autonomous approach to digital financial policy, distinct from the development trajectory in mainland China. While Beijing focuses on the state-controlled digital yuan (e-CNY), Hong Kong has opted for a model that allows the private sector to issue stablecoins under close regulatory oversight.
