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Stablecoins

Stablecoins
Stablecoins are cryptocurrencies that maintain a stable value by being pegged to a reference asset, typically backed by fiat currency such as the US dollar, offering a less volatile alternative to other digital assets.
Bao Fan, founder of China Renaissance Holdings. Photo: Nora Tam
Banking & finance

China Renaissance founder Bao Fan set free more than 2 years after disappearance

News of Bao’s release could provide some relief for his company, which recently invested in stablecoin issuer Circle Internet Group.

Banking & finance

Standard Chartered forms joint venture to apply for Hong Kong stablecoin licence

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Blockchain

Ant Digital promotes blockchain platform as Hong Kong implements stablecoin law

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Cryptocurrency

Video | What’s the hype about stablecoins?

The Post looks into what stablecoins are and their potential impact on the cryptocurrency market.

Stablecoin
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Cryptocurrency

Hong Kong stablecoin regime a ‘double-edged sword’, analysts say

Stringent rules including US$3.2 million capital requirement could sideline start-ups while encouraging big players, experts say.

Banking & finance

Opinion | Hong Kong can lead charge for yuan alternative to US stablecoin

As legislation and dollar stablecoin dominance give US a new lever of financial statecraft, with its new law, Hong Kong can develop a credible alternative.

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Cryptocurrency

HKMA’s strict stablecoin regime to shape Hong Kong’s crypto future

Observers surprised after the city’s de-facto central bank says it plans to issue the first batch of licences early next year.

Hong Kong’s stablecoin ordinance has triggered a rush for licences from the HKMA. Photo: Jonathan Wong
Cryptocurrency

Crypto exchange OSL sees optimism rise as Hong Kong enters stablecoin era

The Hong Kong Monetary Authority is likely to issue the first batch of stablecoin licences early next year.

Law

Legal Tales | The crypto frenzy and the legal response in Hong Kong

New framework strengthens Hong Kong’s position as a global digital asset hub by offering a sound regulatory environment.

Hong Kong

Hong Kong set to issue first stablecoin licences ‘early next year’

‘We aim to progress step by step, gradually driving the digital transformation of Hong Kong,’ HKMA deputy chief executive Darryl Chan says.

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Stablecoins are cryptocurrencies backed by a reference asset, typically a fiat currency like the US dollar. Photo: Shutterstock
Banking & finance

Editorial | HKMA right to warn against market speculation over stablecoins

With its coming licensing regime, Hong Kong must ensure its first-mover advantage in developing virtual-asset trading reinforces its position as a financial hub.

A pedestrian walks past a currency exchange shop in Causeway Bay with a bank vault painted on its gate on May 5, 2024. Photo: Jelly Tse
Banking & finance

China’s yuan reshaping global order – but US-backed stablecoins seen as a threat

New study shows yuan’s influence growing, but Washington’s digital finance push seen as risk to international monetary order.

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US-China trade war

US-China talks | Europe win on rare earths | Politburo

This week: Trump and Xi tipped to meet at Apec summit, EU chiefs in China, US plans to restrict Chinese AI models. Next week: US-China trade talks resume, China July factory activity out, Politburo could address overcapacity.

Banking & finance

Hong Kong’s OSL Group raises US$300 million amid stablecoin anticipation

The licensed virtual-asset trading platform says it is the largest publicly disclosed equity raise in Asia’s digital-asset sector.

A view of Hong Kong from The Peak on October 5, 2024. Photo: Jonathan Wong
Cryptocurrency

Opinion | In debt-bloated US, stablecoin a new financial weapon in the making

Forget austerity, Trump has ‘big, beautiful’ spending plans and is exploring US bank-backed stablecoin to turn the spreadsheets around.

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In a landmark win for the ascendant cryptocurrency industry and US President Donald Trump, the US Senate has passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. Photo: Shutterstock
Hong Kong Monetary Authority (HKMA)

Stablecoin excitement ‘excessive’, Hong Kong Monetary Authority warns

HKMA chief executive Eddie Yue cautions against a ‘bubble’ based on excitement over companies promising stablecoin offerings.

Banking & finance

Citigroup to explore stablecoins as Hong Kong and US regulations evolve

Clients are eager but seek clarity on use cases and the coins’ impact on balance sheets and liquidity, US bank’s head of services says.

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Banking & finance

Exclusive | The world must rewrite its financial rules for the tokenised future: BIS

The rise of stablecoins poses new challenges to the global infrastructure for instant payment, clearing and settlement, said the gatekeeper of the world’s central banks.

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Shin Hyun-Song, economic adviser and the head of the monetary and economic department of the Bank for International Settlements (BIS), during an interview in Hong Kong, with a photo of the bank’s headquarters in Basel, Switzerland, behind him on July 14, 2025. Photo: Jonathan Wong
China digital currency

Yuan stablecoin, China-EU summit and more

This week: Shanghai eyes stablecoins, China’s economy on track, trade war cools, Nvidia chips return. Next week: Chinese and EU leaders hold summit, US lawmakers probe Chinese scholarships and more.

United States

US House passes ‘Genius Act’ crypto regulation bill, sending it to Trump

The stablecoin vote marks a watershed moment for the digital asset industry, which has been pushing for US federal legislation for years.

Cryptocurrency

ChinaAMC launches first tokenised yuan fund amid Hong Kong stablecoin push

Asset manager’s tokenised financial products are aligned with Hong Kong’s stablecoin framework, ChinaAMC (HK) CEO Tian Gan says.

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ChinaAMC (HK) on Thursday launched the world’s first yuan-denominated tokenised fund. Photo: Shutterstock
Banking & finance

Stablecoin scams put China’s financial regulators in a high-stakes balancing act

After millions were defrauded by a stablecoin-linked investment ploy, local-level governments started sending out warnings.

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While stablecoins have become a buzzword in Beijing’s academic discussions, central bank authorities have maintained China’s crackdown on virtual currencies while remaining focused on developing a central bank digital currency. Photo: Getty Images
Cryptocurrency

Bitcoin soars past US$120,000 as US pushes crucial digital asset legislation

The prospect of a clear US regulatory framework, along with bitcoin’s steady advance, has bolstered confidence among investors.

Banking & finance

Exclusive | Hong Kong embraces digital assets to solve economic problems: Chris Hui

Hong Kong’s push for stablecoins and tokenised assets aims to solve global economic challenges, positioning the city as a leading fintech hub.

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Cryptocurrency

China’s state-asset watchdog explores role of stablecoins, other digital assets

The State-owned Assets Supervision and Administration Commission calls on state-backed firms to study the role of digital assets in trade.

Shanghai, mainland China’s financial hub, is keeping an eye on digital-asset developments, especially the potential role of stablecoins in trade. Photo: Shutterstock
Yuan

Why the yuan can be safe-haven currency: former bank official flags ‘advantages’

Authors, including the PBOC’s former statistics head, call for ‘a new vision where multiple currencies jointly support global financial stability’.

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China’s yuan has shown resilience in the face of US tariffs. Photo: dpa
Blockchain

Eric Trump to headline Bitcoin Asia 2025 conference in Hong Kong

The August event comes as the race for crypto supremacy has intensified, with both Hong Kong and the US moving to legalise stablecoins.

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Banking & finance

Economist Huang Yiping floats Hong Kong as stablecoin staging ground

A digital currency pegged to the offshore yuan would be more workable in Hong Kong than mainland China, the central bank adviser says.

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