Fosun International (HKG: 0656) Seeks Hong Kong Stablecoin License

Fosun International (HKG: 0656) has confirmed plans to apply for a stablecoin issuer license in Hong Kong, marking a major step in its push into digital assets. On August 6, 2025, founder Guo Guangchang personally led the stablecoin team to meet with Hong Kong Chief Executive John Lee and Financial Secretary Paul Chan, who oversees the Hong Kong Monetary Authority (HKMA), the regulator in charge of approving stablecoin licenses.

The group has formed a dedicated application team under its wealth management arm, Fosun Wealth, which operates the fintech platform Star Road Technology. Fosun is already active in digital finance, having participated in the distribution of three tokenized money market funds from China Asset Management and developed a platform for real-world asset (RWA) tokenization. In July, the company applied for Hong Kong trademarks including "Xing Bi," a brand name whose official English version has not yet been announced and which literally translates to "Star Coin," as well as "Fosun Wealth RWA," signaling a stronger push into virtual assets.

New Regulatory Framework and Competitive Landscape

Under the HKMA’s newly implemented Stablecoins Ordinance, any entity issuing fiat-referenced stablecoins (FRS) must be licensed. The regulator began consultations with interested companies on August 1, with a final deadline for applications on September 30, 2025. Industry sources suggest that while more than 40 firms, including tech giants, banks, and payment companies, are preparing submissions, only a small number are likely to secure approval due to strict compliance standards, particularly in anti-money laundering and operational risk management.

Part of a Broader Market Shift

Fosun’s application comes amid growing interest in the new framework. Ant International has announced plans to apply, while several financial institutions are exploring stablecoin issuance for cross-border payments and tokenized asset trading. Hong Kong’s regime is viewed as a first-of-its-kind model globally, aiming to establish the city as a leading hub for regulated stablecoin operations.

Founded in 1992 by Fudan University alumni Guo Guangchang, Liang Xinjun, Wang Qunbin, and Fan Wei, Fosun International is one of China’s largest private conglomerates, listed in Hong Kong since 2007. Its businesses span healthcare, lifestyle, wealth, and smart manufacturing. Key subsidiaries include Hong Kong–listed Fosun Pharma and Fosun Tourism & Culture.