Paul Chan: Hong Kong Stablecoin License Expected to Be Issued Later This Year

January 21 — According to the Hong Kong Economic Times, Hong Kong Financial Secretary Paul Chan Mo-po spoke at a special address session during the World Economic Forum Annual Meeting in Davos, noting that finance and technology can drive each other forward. As an example, digital assets — a financial innovation — enhance transparency, efficiency, inclusiveness and risk management in financial services, while effectively directing capital to the real economy. Finance also serves as a key force supporting and empowering technological development, Chan added. The financial chief emphasized that as an international financial hub, Hong Kong adopts an active yet prudent approach to digital asset development. Aligning with the principle of “same activity, same risk, same regulation,” it promotes market accountability and sustainable growth. Since 2023, Hong Kong has issued licenses to 11 virtual asset exchanges, with stablecoin licenses expected to be granted later this year. The Hong Kong SAR government is also leading by example in advancing tokenization: it has issued three tranches of tokenized green bonds totaling roughly $2.1 billion and launched a regulatory sandbox to foster application innovation.