Hong Kong Monetary Authority Deputy Chief: Stablecoin issuers must obtain approval from mainland regulators if they issue a RMB stablecoin

2026-04-11 22:58:48

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ME News Report, April 11 (UTC+8), Hong Kong Monetary Authority Deputy Chief Executive Chen Weimin emphasized that the choice of tokens for stablecoin issuance is determined by the applicants. The Hong Kong system allows the initial launch of Hong Kong dollar stablecoins, with the possibility of issuing other currencies such as the Renminbi in the future, subject to approval from mainland regulators. Regarding when the second batch of stablecoin licenses will be issued, Chen Weimin stated there is no timetable yet but that discussions with applicants are ongoing. It is understood that HSBC’s stablecoin will be integrated into PayMe and HSBC HK App, supporting real-time transfers between individuals and services from individuals to merchants (P2M). (Source: MLion)

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