Asia Has Stablecoin Laws. The Coins Are Still Missing

Rickler Feed (@rickler_feed), Oct 26, 2026, 15:26 UTC

Asia Has Stablecoin Laws. The Coins Are Still Missing HSBC’s RedCoin went live in Hong Kong on Oct 23. Every live local-currency stablecoin in Asia adds up to about $195M. USDG, one Singapore-issued dollar coin, holds $3.08B. Hong Kong and Japan have stablecoin laws in force, Singapore a finalised MAS framework. The biggest local coin, Japan’s JPYSC at about $132M, never leaves SBI’s exchange. Korea, Taiwan, Indonesia, Thailand and Malaysia have laws or rules due over the next 6 months, while China and Vietnam have shut the door on local coins. Meanwhile money keeps leaving for dollar coins…

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