HK Begin to License Stablecoin; HKMA Go Issue Licences for 2026
For August 1, Hong Kong Stablecoin Law don start to dey work, e begin official stablecoin license system. Hong Kong Monetary Authority (HKMA) go dey take applications for fiat-backed stablecoins wey dey pegged to HKD and USD until September 30, 2025, and dem plan to issue first licenses early 2026. Big companies like JD.com and Standard Chartered don show say dem get interest, but first approvals go dey only for select qualified issuers. The framework require 1:1 reserve ratio, limit adverts to only licensed entities to stop scam, and make issuers put geo-blocking measures against banned areas, even VPN access. Companies must inform HKMA by August 31 and submit full applications by September 30, 2025. Stablecoin licensing rules dey aim to make market stable, protect investors, and give transparency, align Hong Kong with global compliance trends and make am still be major crypto and finance hub.
Bullish
Di way dem introduce stablecoin licensin regime wey dey regulated e dey give clarity plus trust for issuers and investors. By to make sure say e get 1:1 fiat reserves, geo-blocking plus advertising restrictions, the framework dey reduce counterparty risk and fraud, e go boost market confidence. For short term, traders fit see am as positive sentiment for stablecoin demand plus liquidity for Hong Kong. For long term, clear compliance standards and limited initial licences go help responsible issuance, support stablecoin adoption and make market stability strong.