Deputy Governor of the Hong Kong Monetary Authority: Stablecoin issuers who want to launch a Renminbi stablecoin must obtain approval from mainland Chinese regulators

2026-04-12 04:08:33

Abstract generation in progress

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 for 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 ongoing communication with applicants continues. 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)

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.