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CITIC Securities: Focus on potential recipients of the first batch of Hong Kong stablecoin licenses

律动Jul 30, 2025
#DeFi
On July 30th, CITIC Securities released a research report stating that the Hong Kong Monetary Authority (HKMA) issued a series of documents on July 29th regarding the regulatory system for stablecoin issuers, which will be implemented on August 1st. The core document is the "Guideline on the Regulation of Licensed Stablecoin Issuers," and the "Summary Description of the Licensing System for Stablecoin Issuers" is currently the most instructive for the application phase. In terms of timeline, the HKMA encourages prospective applicants to contact the regulator before August 31st, with a deadline of September 30th for mature applicants. The first batch of licenses will be limited to single digits and is expected to be issued before the end of the year. It is recommended to continue focusing on two main themes: issuers who may obtain the first batch of scarce licenses, and scenario platforms that are definitively involved in creating stablecoin usage scenarios. (Golden Ten) [BlockBeats]
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CITIC Securities: Focus on potential recipients of the first batch of Hong Kong stablecoin licenses

律动Jul 30, 2025
#DeFi
On July 30th, CITIC Securities released a research report stating that the Hong Kong Monetary Authority (HKMA) issued a series of documents on July 29th regarding the regulatory system for stablecoin issuers, which will be implemented on August 1st. The core document is the "Guideline on the Regulation of Licensed Stablecoin Issuers," and the "Summary Description of the Licensing System for Stablecoin Issuers" is currently the most instructive for the application phase. In terms of timeline, the HKMA encourages prospective applicants to contact the regulator before August 31st, with a deadline of September 30th for mature applicants. The first batch of licenses will be limited to single digits and is expected to be issued before the end of the year. It is recommended to continue focusing on two main themes: issuers who may obtain the first batch of scarce licenses, and scenario platforms that are definitively involved in creating stablecoin usage scenarios. (Golden Ten) [BlockBeats]
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