Chief Executive of the Hong Kong Monetary Authority: A small number of stablecoin issuer licenses may be approved in the early stage, and no 10 or 20 will be licensed
2025-06-23 06:01:15
HKMA President Yu Weiwen revealed that he has received many inquiries about stablecoin license applications, and said that it seems that "everyone wants to be an issuer", but the relevant HKMA has very strict requirements for stablecoin issuers. It is expected that only a small number of licenses will be issued in the early stage, and the number will not be calculated as 10 or 20. At the same time, Yu Weiwen mentioned that the stablecoin sandbox plan of the Hong Kong Monetary Authority is experimental and industry experience sharing. The current projects in the sandbox do not necessarily ensure the acquisition of a stablecoin issuer license, and will be regarded as new applications in the future.
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