Hong Kong to Issue First Batch of Stablecoin Licenses in March, JD.com and Yuan Coin Become Popular Applicants


Hong Kong Financial Secretary Paul Chan confirmed in the 2026-27 financial budget that the first batch of stablecoin issuer licenses will be issued in March. Currently, the Hong Kong Monetary Authority has received 36 applications and is conducting evaluations, with the goal of implementation in March.
Potential Popular Applicants (Market Expectations, Not Official Confirmation)
· Standard Chartered Bank Consortium (Standard Chartered + Animoca Brands + Hong Kong Telecom HKT / Anchorpoint): Combining banking credit with technological scenarios, the most highly anticipated.
· JD Coinlink Technology Hong Kong: A subsidiary of JD.com, with obvious advantages in e-commerce and supply chain.
· RD InnoTech: Focused on technology.
· Other banking institutions: HSBC, Bank of China Hong Kong, and other note-issuing banks with strong cross-border and HKD peg advantages.
· Other rumored candidates: Ant Group (Ant International), some Chinese payment institutions (such as Lakala Hong Kong subsidiary), and other tech giants or consortia, but the approval probability is relatively low (regulatory tendency towards bank-led or bank + tech stable models).
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