Hong Kong's "Stablecoin Ordinance" Takes Effect on August 1, Fierce Competition for License Applications
On July 8 (UTC+8), the "Stablecoin Ordinance" will officially take effect on August 1 this year, and the Hong Kong Monetary Authority will open license applications. It is expected that only a single-digit number of stablecoin licenses will be issued, and more than 40 companies are currently preparing to apply. Law firms report that there are dozens more interested. Applicants mainly include China's largest financial institutions and internet companies, such as JD.com, Standard Chartered, Circle, Ant International, and AntChain. Some small and medium-sized enterprises have less chance of applying due to the high threshold. (Source: Mlion.ai) [MetaEra]
Hong Kong's "Stablecoin Ordinance" Takes Effect on August 1, Fierce Competition for License Applications
On July 8 (UTC+8), the "Stablecoin Ordinance" will officially take effect on August 1 this year, and the Hong Kong Monetary Authority will open license applications. It is expected that only a single-digit number of stablecoin licenses will be issued, and more than 40 companies are currently preparing to apply. Law firms report that there are dozens more interested. Applicants mainly include China's largest financial institutions and internet companies, such as JD.com, Standard Chartered, Circle, Ant International, and AntChain. Some small and medium-sized enterprises have less chance of applying due to the high threshold. (Source: Mlion.ai) [MetaEra]
