The Hong Kong Monetary Authority’s Deputy Chief Executive Officer, Chen Weimin, said the timeline for issuing the second batch of stablecoin licenses is still uncertain and may be affected by the two institutions granted licenses in the first batch. In addition, China-funded institutions were advised to put their applications on hold, and the number of institutions ultimately granted licenses will be limited, with only a small number meeting the requirements of the “Stablecoin Ordinance.” HSBC Payme users can enable a stablecoin account, but they must be Hong Kong local residents.

Hong Kong Monetary Authority Deputy Chief Executive Officer Chen Weimin said that stablecoin issuers may choose to issue currencies such as Hong Kong dollars or renminbi based on their own discretion, but must obtain regulatory approval from the Mainland. As for the timetable for the second batch of stablecoin issuer licenses, there is no schedule yet. HSBC’s stablecoin will be integrated with PayMe and the HSBC HK App, supporting real-time transfers and person-to-merchant services.

Gate News message, on April 10, HSBC said it welcomes the Hong Kong Monetary Authority’s issuance of a stablecoin issuance license and plans to launch a Hong Kong dollar–denominated stablecoin in the second half of 2026.

DAO List launched on April 3 the HSBC-based Dow Protocol e-commerce financing RWA Vault, with a term of 90 days and an annual return rate of 10%. This Vault is supported by e-commerce platform accounts receivable, provides funding services for merchants, and ensures repayment safety through automated repayment services and a dual-locked account control mechanism, guaranteeing the stability and reliability of cash flow.

Hong Kong’s Hong Kong dollar stablecoin licensing program has been delayed, and it has still not been approved to date. The market expects it may be pushed back to April. Regulators are focused on the applicants’ use cases and compliance, and the high bar is intended to reduce risk. HSBC, Standard Chartered, and others are potential licensees. Stablecoins will connect traditional finance with blockchain assets, and this will be tied to competition in regional digital finance.

Hong Kong’s first batch of stablecoin issuer licenses was originally set to be issued in March 2026, but it did not roll out as scheduled. The Hong Kong Monetary Authority said it is moving forward with the licensing process, and the market is watching the application status of HSBC and Standard Chartered. Among the applications for the second batch of licenses, Futu Securities and OSL Group are strong contenders.

Gate News reports that on March 31, stablecoin issuer Tether laid off several top gold traders who had been recruited just a few months earlier from HSBC.

Hong Kong's financial regulatory framework is progressing, with the Stablecoin Ordinance scheduled to take effect in August 2025, requiring issuing entities to meet stringent standards. Mature financial institutions such as Standard Chartered and HSBC are expected to be among the first to obtain approval, thereby promoting the development of the stablecoin ecosystem. Although concerns about centralization exist, this framework reflects Hong Kong's commitment to becoming a global hub for digital asset innovation, while also instilling confidence in crypto users and institutional investors.

This article summarizes cryptocurrency news from March 13, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time cryptocurrency prices, and price predictions. Today's major events in the Web3 sector include: 1. Bitcoin approaches $72,000: Supply tightening and regulatory tailwinds resonate, revealing BTC's upward momentum; 2. Increased scams after Ethereum fee reduction? Address poisoning attacks surge, USDT small transaction volume skyrockets 612%; 3. Hong Kong stablecoin regulation enters implementation phase: HSBC, Standard Chartered Bank may be among the first to obtain stablecoin issuance licenses.

HSBC and Standard Chartered are expected to become the first institutions in Hong Kong to obtain stablecoin issuance licenses, marking the imminent launch of Hong Kong's stablecoin regulatory framework. The new regulations require stablecoin issuers to obtain approval and comply with strict management requirements. The approval of both banks will drive traditional financial institutions' participation in blockchain payments and strengthen digital asset compliance.