Rumours emerged on Monday that Bank of China (BOC) Hong Kong is interested in applying for a license to issue stablecoins, according to the Hong Kong Economic Journal. The bank’s shares rose 6.7%, closing Monday at HKD 37.58.
BOC Hong Kong Shares Surge Nearly 7% Amid Stablecoin Licence Speculation
2 September 2025 - 10:31 CEST
Hong Kong’s Stablecoin Ordinance came into effect on 1 Aug, inviting interested parties to apply for a license to for the issuance of stablecoins – digital assets pegged to fiat currencies (such as USD or HKD), providing quicker and cheaper transactions compared with fiat. The Stablecoin Ordinance gave applicants until the end of the month to express their interest.
A spokesperson for the Hong Kong Monetary Authority (HKMA) – the regulator in charge of the Stablecoin Ordinance – said that a total of 77 institutions had expressed their interest in a stablecoin license, including banks, and companies operating in technology, securities, asset management, investments, e-commerce, payments, start-ups, and Web3, according to the Hong Kong Economic Journal. A list of applicants will reportedly not be published.
The regulator had previously warned on 14 Aug: “the approval criteria are very high, and only a few licences will be granted initially.”
The HKMA is now arranging meetings with applicants to assess each institution’s proposed plan for issuance to ultimately decide whether to submit formal applications.
