Hong Kong's Regulated Stablecoins Expected to Launch by Mid-Year, Says Financial Bureau Director

According to Hong Kong's Financial Services and Treasury Bureau Director Paul Chan, regulated stablecoins are expected to launch by mid-year, after two licensed issuers complete required testing and implement risk management measures.

The Monetary Authority requires issuers to establish secure reserve asset management, price stability mechanisms, redemption rules, and cybersecurity protocols. The authority will evaluate applicants on three criteria: viable use cases supporting industry development, sustainable operating models with strong risk management and industry experience, and strict compliance with Hong Kong and relevant jurisdictions' regulations.