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.
