HONG KONG, April 10 (Reuters) - Hong Kong has issued its first batch of licences for fiat-backed stablecoins, marking a major step in the city's push to develop regulated digital currencies in global finance and trade.
The Hong Kong Monetary Authority (HKMA) said on Friday it had approved HSBC HSBA.L and a joint venture by Standard Chartered to issue stablecoins backed by the Hong Kong dollar under the city's new stablecoin regime, which came into effect in August 2025.
(Reporting by Summer Zhen and Selena Li; Editing by Toby Chopra)