Paul Chan Says Hong Kong Has Licensed 11 Virtual Asset Exchanges, Stablecoin Licenses Expected Later This Year

According to Zhitong Finance APP, speaking at the World Economic Forum on January 20 (Davos time), Hong Kong Financial Secretary Paul Chan outlined the city’s measured and proactive approach to developing digital assets as an international financial centre. He emphasized the regulatory principle of “same activity, same risk, same regulation” to ensure responsible and sustainable market development. Since 2023, Hong Kong has granted licences to 11 virtual asset trading platforms, and stablecoin licences are expected to be issued later this year.

Mr Chan also noted that the Hong Kong SAR Government has taken an active role in advancing tokenization, having issued three tranches of tokenized green bonds with an aggregate value of approximately USD 2.1 billion, and established a regulatory sandbox to encourage innovation in applications. He argued that finance and technology are mutually reinforcing: digital‑asset innovation can improve transparency, efficiency, inclusiveness and risk management in financial services while more effectively channeling capital into the real economy, and finance itself remains a critical enabler of technological development.