license

According to Techub News, multiple sources have revealed that the first batch of compliant stablecoin licenses in Hong Kong is expected to be issued by the end of March, with HSBC and Standard Chartered likely to be among the first approved institutions.Insiders indicate that after the first round of licenses is issued, the approval process for the second round of licenses will also be expedited, with an announcement expected soon.

According to the Wall Street Journal, crypto-friendly bank Erebor Bank has become the first newly established bank to receive a national banking charter during Trump's second term.The bank has a startup capital of $635 million and aims to fill the market gap left by the collapse of Silicon Valley Bank. Previously, it was reported that U.S. regulators approved the launch of the billionaire-backed new bank "Erebor."

According to the Wall Street Journal, the crypto-friendly bank Erebor Bank has become the first newly established bank to receive a national banking charter during Trump's second term. A spokesperson for the Office of the Comptroller of the Currency (OCC), which oversees national bank charters, has confirmed the approval of Erebor Bank's charter application.

Cryptocurrency payment company Alchemy Pay announced that it has partnered with the Hong Kong Securities and Futures Commission licensed entity HTF Securities Limited to complete the upgrade of the SFC Type 4 (advising on securities) license VA. This development builds on Alchemy Pay's previous strategic investment in HTF Securities, and the two parties will also collaborate to advance the upgrade application for Type 1 and Type 9 licenses for virtual asset business.

According to Forbes, as the regulatory environment in the United States gradually relaxes, the fintech industry is accelerating its transformation towards "licensed banking." Last year, the approval process for trust bank licenses significantly sped up, with the Office of the Comptroller of the Currency (OCC) approving conditional applications for national trust bank licenses for five companies, including Circle, Ripple, BitGo, Fidelity Digital Assets, and Paxos. It is reported that having a banking license is also seen as an important means to hedge against fluctuations in the capital markets.Industry insiders believe that the era of fintech companies merely serving as front-end channels for traditional banks is coming to an end. An increasing number of digital finance and crypto institutions are beginning to directly seek banking licenses. By accepting custodial deposits and connecting to the federal payment system, crypto companies can obtain a more stable and lower-cost source of funding.

According to the Hong Kong Economic Journal, the Hong Kong Securities and Futures Commission (SFC) is considering allowing licensed virtual asset trading platforms (VATPs) to provide secondary trading services for tokenized securities to retail clients. The Deputy Director of the Intermediaries Division, Lo Hoi-sze, stated that the authorities are studying the relevant requirements, operational risks, and control measures, and are drafting a related circular.Currently, Hong Kong retail investors can only subscribe to and redeem tokenized funds in the primary market. Lo Hoi-sze specifically mentioned that the authorities are concerned about local tokenized money market funds and hope to allow trading on licensed VATP platforms, having conducted preliminary consultations with the industry regarding the relevant requirements.Lo Hoi-sze emphasized that from the SFC's perspective, tokenized securities are essentially the same as ordinary securities, with only a technological layer added, and therefore the regulatory principle of "same business, same risks, same rules" will apply.

According to the Beijing Business Daily, new developments have emerged in the regulation of stablecoins in Hong Kong. The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, stated that 36 applications for stablecoin issuer licenses have been received, and the relevant assessment work is being expedited, aiming to issue the first batch of stablecoin licenses in March, although the number will be kept prudent and limited.Eddie Yue emphasized that one of the key focuses of the review is risk management capabilities, including the application scenarios of stablecoins, reserve asset allocation, and cross-border compliance arrangements. In the future, if cross-border businesses involve the mainland, Singapore, London, and ASEAN, the relevant institutions must also comply with local regulatory requirements.Industry insiders pointed out that the issuance of the first batch of licenses is expected to promote the development of a compliant stablecoin ecosystem in Hong Kong, driving financial innovations such as tokenized assets and cross-border payments, further consolidating Hong Kong's international position in the digital finance sector. However, the Monetary Authority has clearly insisted on a regulatory approach that prioritizes stability, believing that stablecoin businesses should first be strictly regulated and gradually advanced, with rules optimized based on practical situations.The regulatory authorities also warned to be vigilant against illegal financial activities that use "stablecoins" as a gimmick. Industry experts advise investors to stay away from unlicensed stablecoin products, and participation in Hong Kong licensed stablecoin-related businesses across borders must also comply with mainland foreign exchange and cross-border regulatory requirements to prevent market speculation risks.

According to market news, licensed company Axiology under the European DLT pilot regulatory framework announced the completion of a €5 million (approximately $6 million) seed round financing.This round of financing was led by Exponential Science, e2vc, and Coinvest Capital, with new investors TIBAS Ventures and Plug and Play participating. The company's total financing amount has reached €7 million. Axiology holds one of only four comprehensive "DLT trading and settlement system" licenses under the EU DLT pilot scheme. The company operates on a permissioned XRP Ledger, focusing on fixed income securities and the institutional market. Since the platform's launch in September last year, it has introduced services such as securities custody, shareholder registration management, and multilateral trading facilities. The platform currently supports settlement with regulated stablecoins and plans to participate in the European wholesale central bank digital currency initiative, while achieving settlement on the TARGET2 system through the European Central Bank's Project Pontes and Project Appia.

The Nevada Gaming Control Board has filed a civil enforcement lawsuit in the First Judicial District Court of Nevada, accusing Coinbase of providing unlicensed sports event contract betting services through its Coinbase Financial Markets division. The documents show that the regulator is also requesting the court to issue a temporary restraining order and a preliminary injunction, requiring Coinbase to cease "operating a derivatives exchange and prediction market related to sports betting" in Nevada.Mike Dreitzer, Chairman of the Nevada Gaming Control Board, stated that this move aims to fulfill regulatory responsibilities and protect the order of the local gaming industry as well as the interests of residents in the state. This lawsuit comes less than a week after Coinbase announced a partnership with Kalshi to launch prediction market services in all 50 states. Although Kalshi is regulated at the federal level by the Commodity Futures Trading Commission, state-level regulators can still challenge related businesses legally.Additionally, Nevada has recently taken similar action against Polymarket, with the court previously approving a temporary restraining order prohibiting it from offering event-based contract betting to residents in the state. The related cases are also seen as potentially challenging the federal regulatory authority over prediction markets.

Matrixport announced that its Bhutan entity, Matrix Bhutan Pte Ltd, has obtained a Financial Services License (FSL) issued by the Bhutan Financial Services Office (GFSO).The license authorizes the company to conduct multiple regulated financial services within or from the Bhutan Grelup Mindfulness City (GMC), including currency services, OTC operations (facilitating proprietary trading), and custodial services. This licensing is a significant advancement based on the principle approval (IPA) obtained in December 2025, and marks the official commencement of approved business activities for Matrix Bhutan Pte Ltd under Bhutan's regulatory framework.In the future, Matrixport will continue to strictly adhere to the relevant regulatory requirements of GFSO and GMC, focusing on compliance, risk management, and robust governance, while continuously promoting the development of institutional-grade digital financial services.

According to The Block, Ripple has obtained a full Electronic Money Institution (EMI) license from the Luxembourg Financial Supervisory Authority (CSSF), which officially came into effect after preliminary approval on January 14.This authorization allows Ripple to expand its payment and digital asset services across the entire European Union, providing a regulated channel for its blockchain-based payment services to enter the European market.

According to Caixin, on February 2, 2026, after a meeting of the Financial Affairs Committee, the President of the Hong Kong Monetary Authority, Eddie Yue, stated that a total of 36 institutions have submitted applications for stablecoin licenses, including banks, technology companies, brokerages, asset management companies, investment firms, e-commerce, payment institutions, and startup/web3 companies. Among them, Standard Chartered Bank (Hong Kong) is highly anticipated as it is one of the three major note-issuing banks in Hong Kong.Additionally, two sources indicated that JD Technology (Hong Kong), which was previously reported to have withdrawn from the competition for the first batch of stablecoin licenses, has not actually withdrawn its application for a stablecoin license. JD Technology (Hong Kong) is also one of the three main experimental entities in the stablecoin testing sandbox.

Ripple has obtained a full Electronic Money Institution (EMI) license issued by the Luxembourg Financial Industry Supervisory Commission (CSSF). Previously, Ripple received preliminary approval for the license last month and has now fulfilled all the conditions required by the CSSF.

The President of the Hong Kong Monetary Authority, Eddie Yue, stated that the first round has received stablecoin license applications from 36 institutions, and they are currently continuing the evaluation, aiming to make a decision as soon as possible and issue the first batch of licenses in March.Eddie Yue pointed out that the regulatory authority has requested additional information for some applications. Since the content submitted in the first round mainly consists of basic information required for licensing, further verification of key elements such as specific application scenarios, risk management arrangements, and the composition of reserve assets will still be necessary. Provided that the information is complete, the Monetary Authority will strive to complete the issuance of the first batch of licenses in March, but emphasized that the number of licenses in the first batch will not be large and will proceed with a principle of prudence and stability.

The Hang Seng Gold ETF has been listed on the Hong Kong Stock Exchange, becoming the first physical gold ETF in Hong Kong that allows individual investors to redeem directly from banks. The Secretary for Financial Services and the Treasury, Christopher Hui, stated at the 19th Asian Financial Forum (AFF) held in Hong Kong that the Hang Seng Gold ETF not only provides an option for redeeming physical gold at banks but also plans to distribute through licensed digital asset trading platforms.According to Li Peishan, Executive Director and CEO of Hang Seng Investment Management, the tokenized non-listed category of the Hang Seng Gold ETF is currently in the final testing phase and is expected to launch in the first quarter of 2026. The tokenized category will also be open to retail investors, with an anticipated lower entry fee. Currently, only USD-denominated shares are arranged, but this category will not have a physical gold redemption option.

The UK fintech giant Revolut has officially launched its full banking operations in Mexico, marking the company's first licensed bank outside of Europe. Revolut becomes the first independent digital bank to be approved by directly applying to regulators (rather than acquiring a local institution or partnering), investing over $100 million in capital, which is double the regulatory minimum requirement, with a capital adequacy ratio of 447.2%.The rating agency HR Ratings has assigned a long-term HR AAA rating, while S&P has given a mxA+ stable outlook rating. CEO Nik Storonsky stated that Mexico will be the blueprint for expansion into emerging markets. Revolut's revenue is projected to reach $3.8 billion in 2024, with profitability for four consecutive years, and a valuation of $75 billion by 2025.

According to market news, Nomura Securities' digital asset subsidiary Laser Digital has applied to the Office of the Comptroller of the Currency (OCC) for a national trust bank charter. If approved, the charter will allow Laser Digital to operate nationwide without the need to apply for custody licenses on a state-by-state basis, although the business will not involve accepting retail deposits. It is reported that the company also plans to offer spot cryptocurrency trading services.

The Hong Kong Securities and Futures Commission announced that licensed corporations, virtual asset service providers licensed by the SFC, and related entities (collectively referred to as "licensed institutions") must transition to the new suspicious transaction reporting platform developed by the Joint Financial Intelligence Unit, namely the "Second Generation Suspicious Transaction Reporting and Management System" (STREAMS 2) by February 2, 2026.This platform will replace the existing system to enhance automation and analytical capabilities, thereby improving the efficiency of analyzing suspicious transaction reports and disseminating financial intelligence. From February 2, 2026, STREAMS 2 will be the only channel for submitting suspicious transaction reports, and licensed institutions can submit reports in XML format, specified PDF format, or via an online form.

According to the Hong Kong Economic Journal, Hong Kong digital bank Mox Bank has announced that it has received regulatory approval to upgrade its Type 1 license to provide virtual asset trading services for customers through a comprehensive account. However, at this stage, it only supports trading Bitcoin and Ethereum in US dollars. The trading fee rates are divided into four membership levels, with the lowest level, Basic, having a virtual asset trading commission of 1.25%, while the highest level, Elite, has a commission of 0.5%.It is reported that Mox Bank is the second digital bank approved for virtual asset trading, following ZA Bank, which launched cryptocurrency trading services last July, supporting BTC, ETH, SOL, LINK, and other currencies in Hong Kong dollars or US dollars.