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Over 40 Companies Apply for Stablecoin Licenses in Hong Kong

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by Giorgi Kostiuk

11 hours ago


Hong Kong's new stablecoin law has generated significant interest from major financial companies, which could alter the digital asset landscape.

Introduction of the New Stablecoin Law

On August 1, 2025, Hong Kong's new stablecoin law will come into effect, prompting over 40 firms to apply for licenses. Notable participants include Standard Chartered, Ant Group, and Circle Innovation.

Expected Number of Licenses

Predictions indicate that fewer than 10 licenses will be granted. Applicants are preparing for significant compliance costs, which may lead to consolidation within the market.

Comparison with EU Initiatives

The new law in Hong Kong mirrors initiatives from the EU, such as MiCA, that have led to consolidation and increased compliance costs. It is expected that the law will result in market concentration among large firms.

Given the regulatory measures being introduced in Hong Kong, significant changes in the financial sector and the proliferation of stable financial practices are anticipated.

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