Hong Kong Monetary Authority stablecoin briefing to be held soon, Standard Chartered, HSBC, OSL rumored to be among the first batch of licensees.

The Hong Kong Monetary Authority will hold a technical briefing session for stablecoin issuers at 5 p.m. on April 10th, the briefing will be hosted by Vice President Chen Weimin, Assistant Vice President (Regulatory and Anti-Money Laundering) Chen Jinghong, Assistant Vice President (Currency Management) He Hanjie, and Director (Digital Finance) He Hongzhe. Subsequently, licensed stablecoin issuers will meet with the media. The Hong Kong Monetary Authority had previously indicated that they were aiming to issue the first batch of stablecoin licenses last month, but no announcement was made in the end. Earlier reports indicated that three companies were expected to receive licenses, including Standard Chartered Bank, HSBC, and the virtual asset trading platform OSL. In February, the Hong Kong Monetary Authority stated that they had received applications for stablecoin licenses from 36 institutions, including banks, technology companies, securities/asset management/investment companies, e-commerce, payment institutions, startups/web3 companies, etc. HKMA Chief Executive Eddie Yue had mentioned that the number of stablecoin licenses issued will not be large, with a focus on caution and prudence.