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CITIC Securities: Focus on two main lines: participating in the creation of stablecoin usage scenarios with certainty, and scenario platforms.

吴说Jul 30, 2025
#DeFi
CITIC Securities' research report stated that the Hong Kong Monetary Authority (HKMA) has issued a series of documents regarding the regulatory regime for stablecoin issuers, which will be implemented on August 1st. The core document is the "Supervisory Guidance for Licensed Stablecoin Issuers," and the "Summary Explanation of the Licensing Regime for Stablecoin Issuers" is currently the most instructive for the application phase. In terms of timeline, the HKMA encourages prospective applicants to contact regulators 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 finalized 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. [Wu Blockchain]
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CITIC Securities: Focus on two main lines: participating in the creation of stablecoin usage scenarios with certainty, and scenario platforms.

吴说Jul 30, 2025
#DeFi
CITIC Securities' research report stated that the Hong Kong Monetary Authority (HKMA) has issued a series of documents regarding the regulatory regime for stablecoin issuers, which will be implemented on August 1st. The core document is the "Supervisory Guidance for Licensed Stablecoin Issuers," and the "Summary Explanation of the Licensing Regime for Stablecoin Issuers" is currently the most instructive for the application phase. In terms of timeline, the HKMA encourages prospective applicants to contact regulators 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 finalized 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. [Wu Blockchain]
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