Hong Kong hasn’t issued a single HKD stablecoin license after March target
CoinDesk
Hong Kong has missed its March deadline for issuing HKD stablecoin licenses, with the HKMA providing no updated timeline for approvals.Summary
The Hong Kong Monetary Authority (HKMA) has failed to meet its March target for issuing stablecoin licenses, despite earlier indications from Financial Secretary Paul Chan Mo-po that the process would begin then. While major institutions like HSBC and a joint venture involving Standard Chartered and Animoca are expected to be among the first recipients, the HKMA has not provided a new timeline or a reason for the delay. The initiative is part of Hong Kong's broader strategy to establish itself as a regulated hub for tokenized finance, drawing parallels between modern stablecoins and the city's historical private banknote issuance system.
(Source：CoinDesk)