Stablecoins
How Hong Kong treats stablecoins.
Stablecoins Ordinance in force 1 August 2025. Fiat-referenced stablecoin issuance requires an HKMA licence.
What each regime asks for
Requirements.
Hong Kong HKMA
HKMA
HKD 25,000,000
Fixed paid-up share capital. Licensed banks are treated separately.
Each yearHKD 113,020
Reserve rule100% segregated reserves in high quality liquid assets, redemption within one business day, independent audit
Foreign firmsHong Kong incorporation or a registered local branch. No cross-border licensing.
Licences
Who holds what in Hong Kong.
Every row links to the regulator's own entry.
| Company | Regulator | Licensed for | Granted | Source |
|---|---|---|---|---|
| Anchorpoint Financial Limited stablecoin | HKMA | Stablecoin issuer licence, s.15(1) Stablecoins Ordinance (Cap. 656) | 10 Apr 2026 | register ↗ |
| The Hongkong and Shanghai Banking Corporation Limited stablecoin | HKMA | Stablecoin issuer licence, s.15(1) Stablecoins Ordinance (Cap. 656) | 10 Apr 2026 | register ↗ |
| Accumulus GBA Technology (Hongkong) Co., Limited | SFC | Virtual asset trading platform licence (AMLO) | 18 Dec 2024 | register ↗ |
| Bullish HK Markets Limited | SFC | Virtual asset trading platform licence (AMLO) | 18 Feb 2025 | register ↗ |
| DFX Labs Company Limited | SFC | Virtual asset trading platform licence (AMLO) | 18 Dec 2024 | register ↗ |
| EXIO Limited | SFC | Virtual asset trading platform licence (AMLO) | 18 Dec 2024 | register ↗ |
| Hash Blockchain Limited | SFC | Virtual asset trading platform licence (AMLO) | 09 Nov 2022 | register ↗ |
| Hong Kong BGE Limited | SFC | Virtual asset trading platform licence (AMLO) | 17 Jun 2025 | register ↗ |
| Hong Kong Digital Asset EX Limited | SFC | Virtual asset trading platform licence (AMLO) | 18 Dec 2024 | register ↗ |
| Hong Kong Virtual Asset Exchange Limited | SFC | Virtual asset trading platform licence (AMLO) | 03 Oct 2024 | register ↗ |
| NewBX Limited | SFC | Virtual asset trading platform licence (AMLO) | 18 May 2026 | register ↗ |
| OSL Digital Securities Limited | SFC | Virtual asset trading platform licence (AMLO) | 15 Dec 2020 | register ↗ |
| Panthertrade (Hong Kong) Limited | SFC | Virtual asset trading platform licence (AMLO) | 27 Jan 2025 | register ↗ |
| Victory Fintech Company Limited | SFC | Virtual asset trading platform licence (AMLO) | 13 Feb 2026 | register ↗ |
| YAX (Hong Kong) Limited | SFC | Virtual asset trading platform licence (AMLO) | 27 Jan 2025 | register ↗ |