On June 27, Hong Kong’s Financial Services and the Treasury Bureau (FSTB) and Securities and Futures Commission (SFC) jointly released a consultation paper announcing a mandatory licensing regime for all platforms offering crypto-to-fiat services — including OTC shops and platforms.
A new wave of policy thinking may put Hong Kong at the center of China’s cross-border stablecoin ambitions. With Hong Kong's new stablecoin legislation officially in effect, global observers are paying close attention to the city’s potential to host the world’s first offshore RMB stablecoin — a bold move that could reshape the global digital payment landscape.
Visa has teamed up with Bridge—recently acquired by Stripe—to introduce a USDC‑backed Visa card in Argentina, Colombia, Ecuador, Mexico, Peru and Chile. Cardholders can spend stablecoins anywhere Visa is accepted without extra conversion steps or settlement delays. This rollout marks a pivotal shift from Web3 experimentation toward real‑world financial integration. With plans to expand into Europe, Africa and Asia, Hong Kong’s robust financial infrastructure and progressive stablecoin sandbox regime make it a natural candidate for a future pilot.
