Multiple International Companies Apply for Hong Kong’s Stablecoin Licensing

Hong Kong's Stablecoin Ordinance, passed on May 21, will take effect on August 1, 2025, with the Hong Kong Monetary Authority (HKMA) now accepting license applications. Over 40 companies are preparing to apply, including major players like Standard Chartered, ANT International, and Circle Innovation Technology Co.

The competition for licenses is intensifying as institutions worldwide vie for approval. Standard Chartered has partnered with Animoca Brands and HKT to FORM a joint venture, while Ant International aims to strengthen its blockchain and cross-border payment services.

The HKMA's flexible application process welcomes global participants, signaling Hong Kong's growing role in the digital asset space. The licenses, though speculated to be short-term, reflect robust demand for regulated stablecoin operations in the region.