HKMA Denies Second Batch of Stablecoin Licenses Coming in October

tag, containing paragraphs and headings. We need to translate each part, preserving HTML structure. Let's break down the content: First paragraph: "The Hong Kong Monetary Authority has pushed back against market chatter that a second round of stablecoin licenses would be issued around National Day in early October. The regulator told Cailian on August 6 that the speculation is unfounded." Translation: "دفعت السلطة النقدية في هونغ كونغ (HKMA) ضد الشائعات السوقية التي تفيد بأنه سيتم إصدار جولة ثانية من تراخيص العملات المستقرة حول اليوم الوطني في أوائل أكتوبر. وأخبرت الجهة التنظيمية موقع كايليان في 6 أغسطس أن هذه التكهنات لا أساس لها." But we need to keep "HKMA" as is? Actually, we can write "السلطة النقدية في هونغ كونغ (HKMA)" but the instruction says keep proper nouns in original form, so we can write "HKMA" directly. But in the first mention, it might be better to write the full name in Arabic and then the acronym in parentheses. However, the original uses "The Hong Kong Monetary Authority" and then later "HKMA". In the article, the first paragraph says "The Hong Kong Monetary Authority" and then later "HKMA" in the second paragraph. So we can translate the full name as "السلطة النقدية في هونغ كونغ" and then use "HKMA" later. But the instruction says keep proper nouns, so we can keep "HKMA" as is. I'll translate the full name as "السلطة النقدية في هونغ كونغ" and then use "HKMA" in parentheses or just "HKMA" later. But to be consistent, I'll use "السلطة النقدية في هونغ كونغ (HKMA)" on first mention, and then "HKMA" afterwards. However, the original first paragraph uses the full name, and the second paragraph uses "HKMA". So I'll do the same. But the instruction says "Keep proper nouns (names, company names) in original form" - that means we should not translate "HKMA" to Arabic, we should keep it as "HKMA". So we can write "HKMA" directly. But then we need to translate "The Hong Kong Monetary Authority" - that is a proper noun? Actually, it's the name of the authority, so we might keep it in English? But the instruction says keep proper nouns, so we can keep "Hong Kong Monetary Authority" in English? But that would be odd in an Arabic article. Usually, we translate the name of the authority into Arabic, but keep the acronym. The instruction says "Keep proper nouns (names, company names) in original form" - that means we should not translate names like "HSBC", "Anchorpoint", "Cailian", etc. But "Hong Kong Monetary Authority" is a name, but it's also a description. I think we can translate it as "السلطة النقدية في هونغ كونغ" and then use "HKMA" as the acronym. That is common practice. So I'll do that. Let's proceed with translation. I'll translate the entire content, preserving HTML tags. Original content:

The Hong Kong Monetary Authority has pushed back against market chatter that a second round of stablecoin licenses would be issued around National Day in early October. The regulator told Cailian on August 6 that the speculation is unfounded.

Regulator Quashes October License Rumors

HSBC and Anchorpoint currently hold the only two stablecoin licenses in Hong Kong. The HKMA's denial suggests no new approvals are imminent, despite industry whispers of a second batch timed to the October 1 holiday. The central bank did not elaborate on when or if additional licenses might be granted.

What the Denial Means for the Market

For now, the stablecoin landscape in Hong Kong remains limited to two players. The HKMA's statement effectively freezes expectations for new entrants in the near term. Market participants had been watching for signs of a broader rollout, but the regulator's firm response puts those hopes on hold.

The denial came directly from the HKMA to Cailian, a financial news outlet. No official press release or public statement was issued, but the communication was clear: no second batch in October.

Hong Kong has been positioning itself as a hub for digital asset innovation, but the cautious approach to stablecoin licensing shows the regulator is moving deliberately. The first two licenses were issued earlier this year, and the HKMA has not signaled any change in pace.

The next possible window for new licenses remains unknown. The HKMA has not set a timeline for further approvals, leaving the market to wait for the next official update.

Regulator Quashes October License Rumors

What the Denial Means for the Market

مقالات ذات صلة