Country guide · Asia-Pacific

🇭🇰 Financial licensing in Hong Kong

HKMA (banks, stored value facilities), SFC (virtual asset trading platforms) and Customs (money service operators).

Hong Kong separates banking and stored value facilities (HKMA), virtual asset trading platforms (SFC) and money service operators (Customs and Excise Department). Stablecoin issuer licensing under the HKMA was introduced by recent legislation.

Regulators

Securities and Futures Commission (SFC)
Virtual asset trading platforms
Official website
Hong Kong Monetary Authority (HKMA)
Banks, stored value facilities, stablecoin issuers
Official website

Licence and authorisation types

Stored value / e-wallet licence

Stored value facility licence

Regulator: Hong Kong Monetary Authority (HKMA)
Permitted activities: Multi-purpose stored value facilities.
Minimum capital: Paid-up share capital of at least HK$25 million — confirm with HKMA.
Ownership, management & substance: Hong Kong company.
Application procedure: Application to HKMA.
Government fees: Verification required
Indicative timeline: No reliable published estimate
Limitations: —
Legal basis: Payment Systems and Stored Value Facilities Ordinance

Virtual asset service provider (VASP)

SFC virtual asset trading platform licence

Regulator: Securities and Futures Commission (SFC)
Permitted activities: Operating a centralised virtual asset exchange.
Minimum capital: Verification required
Ownership, management & substance: Hong Kong presence; responsible officers.
Application procedure: Application to SFC.
Government fees: Verification required
Indicative timeline: No reliable published estimate
Limitations: —
Legal basis: AMLO Part 5B; SFO