Hong Kong to Issue Stablecoin Licenses and Expand Crypto Market Access

TLDR

• Hong Kong will issue stablecoin licenses soon, said Chief Executive John KC Lee.

• The city’s Web3 growth is backed by strong liquidity and investor protections.

• The SFC is working to grow virtual asset market liquidity in the region.

• Hong Kong’s crypto stance aligns with its China and global finance position.

• The government remains focused on building a sustainable Web3 framework.

John KC Lee, the Chief Executive of the Hong Kong Special Administrative Region, addressed the opening of Consensus Hong Kong 2026 with a recorded message. In his remarks, he confirmed the government’s commitment to supporting Web3 innovation and strengthening the region’s digital asset sector.

He said, “The HKSAR Government is committed to establishing Hong Kong as a global hub for innovation in digital assets.” He added that the region has taken several steps in recent years to build a proper regulatory environment that ensures long-term Web3 growth.

Lee emphasized Hong Kong’s position under the “one country, two systems” model, which gives it access to both Chinese and international markets. He described this structure as a unique advantage in developing its role as a bridge between East and West in the evolving digital asset space.

Stablecoin Licensing and Market Liquidity Plans

Lee also confirmed that the Hong Kong Monetary Authority (HKMA) is nearing the launch of its first stablecoin licensing program. He noted that the initial licenses could be issued within the next month. This follows the city’s ongoing efforts to formalize and regulate the stablecoin sector.

At the same time, the Securities and Futures Commission (SFC) is developing plans to expand liquidity in Hong Kong’s virtual asset markets.

These steps are intended to attract more companies, institutions, and capital to the region’s crypto space. Lee described the efforts as part of a broader strategy to support sustainable development in the digital finance sector.

Web3 Development Backed by Financial Infrastructure

Lee pointed to Hong Kong’s financial infrastructure as another key asset in supporting Web3 innovation. He mentioned the city’s deep capital markets, regulated environment, and high standards for investor protection. These features are designed to encourage long-term confidence in digital asset businesses operating in the region.

“Hong Kong is in a strong position in promoting Web3 development,” he said. He invited global companies to collaborate with the city and contribute to the next phase of the digital economy.

The speech marks the latest in a series of public messages from Hong Kong’s leadership reinforcing support for digital assets. The city’s previous policy statement on virtual assets in 2025 outlined clear goals for building a regulated and open Web3 environment.

Hong Kong Role in the Global Web3 Ecosystem

The Hong Kong government has steadily increased its focus on Web3, making regulatory progress while welcoming more blockchain firms. The region continues to host high-level industry events, including Consensus 2026, which features global leaders in crypto and digital finance.

As other jurisdictions debate regulatory measures, Hong Kong is moving forward with a roadmap aimed at clarity, openness, and growth. Its officials have stated they want to create a safe space for innovation while ensuring strong compliance and investor safeguards.

Lee ended his remarks by inviting international businesses and developers to participate in building a digital future together with Hong Kong.

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