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

2026-04-12 02:15:48

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

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