Chen Maobo: The Hong Kong Monetary Authority will process applications for stablecoin licenses as soon as possible
2025-06-16 03:29:50
The Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan, recently wrote that with the booming development of the digital asset market, the market demand for stablecoins is expected to further increase. Stablecoins can not only be used as a medium of exchange without traditional payment time and geographical restrictions, but also use their programmable characteristics to develop diverse innovative solutions to automate and intelligentize financial service processes. Noting that many market participants are very interested in this, after the entry into force of the Stablecoin Ordinance, the Hong Kong Monetary Authority will process the license applications received as soon as possible so that eligible applicants can carry out their business. (21 Finance)
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