The first list of "Stablecoin Licenses" in Hong Kong is about to be announced! Rumors suggest they will go to HSBC, Standard Chartered, and OSL.

According to media reports, Hong Kong’s first batch of “Stablecoin Issuer Licenses” is expected to be announced as early as next week. After a fierce competition among the initial 36 applicants, market rumors now suggest that three companies are most likely to be awarded licenses: HSBC, Standard Chartered, and Hong Kong’s first licensed virtual asset platform, OSL.

Bloomberg quoted informed sources as saying that this stablecoin licensing process may favor “banks,” because banks are heavily regulated, have strong capital reserves, and can provide higher security while promoting widespread market adoption.

As for OSL, which is among the rumored licensees, its background is equally impressive. As Hong Kong’s first licensed virtual asset trading platform, OSL not only has extensive experience in tokenization but also possesses the capacity to handle large transactions for traditional institutions like funds.

In response to market rumors, HSBC did not promptly comment; Standard Chartered declined to comment. A spokesperson for the Hong Kong Monetary Authority stated, “We do not comment on market rumors.”

Although it is currently rumored that three companies will receive licenses, industry insiders reveal that initially five institutions were on the candidate list. Due to the strict screening process required for licensing, the final list may still change.

Among the names circulating, only Standard Chartered is a participant in the stablecoin “sandbox.” The other two sandbox participants, JD Chain Technology (Hong Kong) and RD Technologies, founded by former Hong Kong Monetary Authority Chief Executive Officer Norman Chan, will not be part of the initial rollout.