Hong Kong Monetary Authority: 77 expressions of interest received for stablecoin license applications, only a few licenses will be issued in the initial stage
A spokesperson for the Hong Kong Monetary Authority (HKMA) stated that as of August 31, a total of 77 entities have expressed their intention to apply for a stablecoin license to the HKMA. These entities include banks, technology companies, securities/asset management/investment firms, e-commerce companies, payment institutions, and startups/web3 companies. The HKMA will not disclose the list of entities that have expressed interest or formally submitted applications. The spokesperson emphasized that expressing intention or submitting a stablecoin license application, as well as communication between the HKMA and relevant entities, are merely parts of the application process and do not constitute approval of any entity, nor do they imply any endorsement of the prospects for license approval. Whether a license is ultimately granted will depend on whether the application meets the licensing requirements.
The spokesperson stated that it has been clearly indicated earlier that only a few stablecoin licenses will be issued in the initial phase. The HKMA has been arranging meetings with interested entities, hoping that communication during this period will help these entities seriously assess the necessity and maturity of their stablecoin issuance plans, and thus decide whether to submit a formal application. The HKMA once again reminds the public to remain vigilant against the promotion of unlicensed stablecoins.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Could Post October Gains as Uptober Pattern Appears in Historical Returns


Cardano Price Could Rise Toward $1.32–$1.80 After Retesting $0.85 Support as ETF Optimism Grows

Trending news
More[Bitpush Daily News Selection] Deutsche Bank increased its holdings of Strategy stocks to $220 millions in the second quarter; BlackRock's IEFA increased its holdings of Metaplanet stocks by about $6.75 millions; UAE's RAK Properties has started accepting bitcoin and other cryptocurrencies for property purchases; the US Office of Government Efficiency is using AI in an attempt to cut SEC rules and regulations.
Bitcoin Could Post October Gains as Uptober Pattern Appears in Historical Returns
Crypto prices
More








