
Hong Kong is fast becoming a global hub for Web3 and digital assets. However, as interest from banks, stablecoin issuers, and crypto trading platforms grows, so does the need for clear rules and strong protections. In response, Hong Kong regulators have introduced new laws and guidelines to ensure digital assets are properly secured and risks are well managed.
The Stablecoins Bill, passed in May 2025, is the most recent example of these increased regulatory efforts. The Ordinance is expected to come into effect on 1st August 2025, after which the Hong Kong Monetary Authority (HKMA) will begin accepting licence applications. It created a licensing regime for fiat-referenced stablecoin (FRS) issuers and sets strict rules around asset reserves, redemptions, and cybersecurity. Alongside this bill, the HKMA and the Securities and Futures Commission (SFC) have issued guidance that covers:
Meeting these standards is essential for organizations seeking to do business in Hong Kong’s burgeoning digital asset market. This is where Thales comes in.
Private keys and wallet seeds are the gateway to digital assets. Their being lost or compromised can mean losing everything. As such, Hong Kong regulators require them to be stored in secure, tamper-resistant environments.
Thales Hardware Security Modules (HSMs) do precisely that:
Together, these measures ensure your digital assets remain secure, compliant, and under your control.
The HKMA encourages banks to explore blockchain-based services like cryptocurrencies and tokenized deposits, but only if they can’t manage the risks. The impending quantum threat is arguably the most pressing of these threats. Thales helps secure Blockchain systems by:
These measures ensure you’re not just compliant today but prepared for tomorrow.
Regulations now require financial institutions and trading platforms to maintain a detailed record of how they access and use digital assets. Again, Thales HSMs make this easy:
The result? Faster audits, easier reporting, and stronger governance.
Hong Kong regulators are also keenly aware that threats are evolving and emphasize staying alert to emerging risks, including quantum attacks that could break today’s encryption.
Thales is prepared for these eventualities:
If you’re planning long-term digital asset strategies, this is non-negotiable.
Thales isn’t new to digital asset security, and our track record in Hong Kong proves it.
We received the Fintech Award 2024 for Outstanding Cybersecurity Solution for Digital Assets in Hong Kong, recognizing our role in helping financial institutions and trading platforms meet regulatory expectations while securing complex blockchain environments.
Over 80% of licensed Virtual Asset Trading Platform (VATP) operators in Hong Kong already rely on Thales HSMs to protect client virtual assets and meet SFC-mandated cybersecurity standards. These platforms must meet strict rules around client asset segregation, key protection, and audit logging, areas where Thales solutions are purpose-built to help. Check out our case study to learn more.
The Stablecoins Bill is just the start. More rules, more scrutiny, and more innovation are on the way. The HKMA has already said further consultations are coming.
Whether you’re a bank, stablecoin issuer, or crypto trading platform, Thales can help you build a secure, compliant, and future-ready digital asset infrastructure. Because in digital finance, security isn’t just a requirement; it’s the foundation of trust.