PANews reported on March 12 that, according to Sing Tao Daily citing multiple sources, HSBC, Standard Chartered Bank, and Hong Kong-based virtual asset trading platform OSL will be among the first companies to receive stablecoin licenses in Hong Kong. The report stated that the list could be announced as early as next week, but it is not yet finalized and is subject to change. The Hong Kong Monetary Authority stated that it would not comment on market rumors.

According to previous reports from Hong Kong media, the Hong Kong Monetary Authority's stablecoin licenses will be issued after the Two Sessions, with the first batch numbering less than four .