PANews reported on April 1st that, according to Caixin, the first batch of stablecoin issuer licenses in Hong Kong, originally scheduled for March 2026, has not yet been issued as planned. A spokesperson for the Hong Kong Monetary Authority (HKMA) responded that the HKMA is making every effort to expedite the licensing process and will announce details in due course. Regarding who will receive the first batch of stablecoin licenses in Hong Kong, the market previously focused on the two major Hong Kong dollar note-issuing banks, HSBC and Standard Chartered Bank. HSBC has not publicly disclosed whether it has submitted an application for a stablecoin license. However, as early as mid-January this year, rumors circulated that HSBC had a significant chance of obtaining one of the first licenses.

There is currently no official disclosure as to why the issuance of stablecoin licenses has been delayed compared to the previously announced timeline. Sources close to the stablecoin license application process have revealed that the Hong Kong Monetary Authority (HKMA) has been in close contact with the first batch of potential compliant licensees, and further suggestions for amendments regarding issuance are still being made. Furthermore, a second batch of compliant stablecoin licenses for Hong Kong is also under application. Reliable sources indicate that Futu Securities and OSL Group are strong contenders for the second batch of licenses.