The post Chen Maobo Says Stablecoin Licensing Will Take ‘Small Steps, Quick Steps’ appeared on BitcoinEthereumNews.com.

Hong Kong Financial Secretary Paul Chan Mo-po has framed the city’s stablecoin licensing strategy as one of “small steps and quick steps,” emphasizing that stablecoins should be treated as payment and settlement tools rather than investment products. The remarks, delivered at Consensus Hong Kong 2026 on February 11, 2026, outlined a deliberately cautious but forward-moving approach to regulating stablecoin issuers. Chan’s Policy Stance: Gradual Licensing With Clear Expectations Speaking at the industry conference, Chan said Hong Kong views stablecoins as a practical tool for addressing real-economy pain points, especially in payments and settlements. He stated that stablecoin licensees must demonstrate real-world use cases, a credible and sustainable business model, and strong regulatory compliance capabilities, according to the official government transcript. Chan said Hong Kong planned to issue only a small number of stablecoin issuer licences in the first batch, which was targeted for March 2026. The phrasing “small steps and quick steps” captured a dual commitment: restraint in how many licences are granted at once, paired with urgency in actually moving the process forward. First stablecoin issuer licencesThe first approvals ultimately went to Anchorpoint Financial and HSBC, underscoring the “small steps” approach. That cautious approach played out in practice. On April 10, 2026, the Hong Kong Monetary Authority granted stablecoin issuer licences to just two entities: Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited. Why ‘Small Steps, Quick Steps’ Signals Deliberate Rollout The “small steps” half of the equation reflects a screening process designed to filter aggressively. HKMA chief Eddie Yue, speaking on February 2, 2026, said licensing assessments were focusing on use cases, risk management, anti-money laundering measures, and the backing assets of the stablecoins. He confirmed that only a very small number of licences would be granted initially, according to Reuters reporting. The “quick steps”…

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Filed under: News - @ April 13, 2026 3:25 am