Hong Kong · Regulatory regime

Hong Kong Stablecoins Ordinance

Stablecoins Ordinance (Cap. 656)

Status

In force

In force since 1 August 2025

Instrument: Hong Kong ordinance; HKMA licenses stablecoin issuers
Dated milestones: 1 (0 upcoming)
Tracked banks: 1
Verified items: 3

What it is Fact

In the words of the official source, quoted verbatim. Quotes are string-matched against the live page before every deploy.

“the implementation of the regulatory regime for stablecoin issuers, which will come into effect on 1 August 2025”

— Hong Kong Monetary Authority

“Register of Licensees under the Stablecoins Ordinance (Cap. 656)”

— Hong Kong Monetary Authority

Status is derived from the dated milestones below (a “regime in force / rules take effect” date in the past means in force). Not legal advice.

Key dates

Each date is quoted from the official text. Deadline radar · add to calendar (ICS)

1 August 2025 · passed
Hong Kong regulatory regime for stablecoin issuers comes into effect
“which will come into effect on 1 August 2025”
Regime in force · Hong Kong Monetary Authority (opens source in new tab) · our item

Banks and initiatives

Tracked bank initiatives that cite this regime or are linked to its verified items. Three separate statuses: regulatory · technical · commercial.

HSBC
HSBC Hong Kong stablecoin (HSBC RedCoin)
Approved / authorisedUnknownLive — commercial, within explicit scope
Verified 23 Oct 2026

Verified news on Hong Kong Stablecoins Ordinance

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57 quote-verified items · 58 bank initiatives tracked · 16 jurisdictions

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