HKMA Shuts Down Stablecoin License Speculation, Prioritizing Quality Over Speed

Hong Kong's monetary authority has pushed back on market speculation about a second batch of stablecoin licenses, saying it has 'no comment' on rumors that new issuers would be announced around National Day in early October.

The Hong Kong Monetary Authority (HKMA) told Cailian that it holds an 'open yet cautious' stance on expanding its stablecoin issuer list. This decision is significant for investors tracking Asia's digital asset race, as Hong Kong passed the Stablecoins Ordinance in May 2025 and introduced the licensing regime for stablecoin issuers in March 2026.

The regulator has granted two licenses so far: to HSBC and Anchorpoint Financial, a joint venture between Standard Chartered, HKT, and Animoca Brands. These tokens will target cross-border payments and institutional settlement, with HKD references. The HKMA is focused on getting the first two live before expanding the field.

The regulator's measured approach reinforces Hong Kong's strategy of building a high-trust, bank-grade stablecoin ecosystem. This means lower de-pegging risk and stronger AML controls around any HKD-backed token they touch. The city has been consistent in prioritizing quality over speed, as seen in the introduction of the LEAP framework.