Hong Kong sets HK$25 million capital requirement for stablecoin issuers

Hong Kong has imposed a HK$25 million minimum capital threshold for entities seeking to issue fiat-backed stablecoins. The Hong Kong Monetary Authority administers the licensing framework, which became legally operative in 2024. Issuers must hold reserves in low-risk, highly liquid assets and guarantee 1:1 fiat redemption within short timeframes.