Hong Kong Monetary Authority Processes Stablecoin License Applications from 36 Applicants

IfIWereOnChain · 2026-02-14T20:07:56+00:00

The Hong Kong Monetary Authority (HKMA) is managing a significant influx of stablecoin license applications, having received 36 in the first phase. The evaluation process is strict, requiring detailed operational plans and a thorough risk management framework. HKMA aims to complete this phase by March, with a conservative approach to ensure quality and minimize systemic risks.

IfIWereOnChain

2026-02-14 20:07:56

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Hong Kong Monetary Authority (HKMA) is currently handling a significant influx of license applications for stablecoins. According to recent reports, the regulator has received 36 applications in the first phase of digital asset license submissions for these stable value-backed assets.

Strict Evaluation of License Applications

The review process for each license application has begun with comprehensive standards. Eddie Yue, HKMA’s Chief Executive, revealed that the authority has requested additional information from several applicants. The initial submission phase only included basic information required for license registration. However, to proceed further, HKMA requires more in-depth data regarding each company’s operational plans.

Verification Criteria for License Holders

Before licenses are issued, HKMA will conduct thorough assessments of several critical aspects. This evaluation includes specific application scenarios, the risk management framework implemented, and the composition and adequacy of reserve assets backing each stablecoin. This approach demonstrates the regulator’s commitment to ensuring stability and security within the local digital asset ecosystem.

Target Completion Next Month with a Conservative Strategy

HKMA aims to complete the first round of licensing by March, provided all necessary information has been collected. However, Yue emphasized that the number of licenses approved in this initial batch will be strictly limited. This conservative strategy is chosen to ensure optimal quality control and to avoid systemic risks in the rapidly growing stablecoin market.

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