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Singapore, Hong Kong want a slice of the US$250 billion stablecoin pie

MAS is working on legislative amendments to formalise the Republic’s framework for the cryptocurrency token

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Young Zhan Heng

Young Zhan Heng

Published Thu, Aug 21, 2025 · 08:46 PM
    • Singapore finalised its Single Currency Stablecoin framework back in 2023 – a move that pundits view as a boost to its role as a hub for South-east Asia and the West.
    • Singapore finalised its Single Currency Stablecoin framework back in 2023 – a move that pundits view as a boost to its role as a hub for South-east Asia and the West. PHOTO: BT FILE

    [SINGAPORE] Regional financial centres Singapore and Hong Kong are both aiming to capture a piece of the US$250 billion stablecoin market.

    On Aug 1, Hong Kong launched a regulatory regime for stablecoin issuers. Some industry watchers noted that the territory might be positioning itself as a regulated gateway into mainland China.

    Singapore, on the other hand, finalised its Single Currency Stablecoin framework back in 2023 – a move that pundits viewed as a boost to its role as a hub for South-east Asia and the West.

    StablecoinsCryptocurrenciesSingaporeHong KongAsia-Pacificcrypto exchange

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