According to the incomplete statistics of Caijing Magazine, there are currently at least nine institutions in the Hong Kong market in China that have indicated their intention to apply or are exploring the application for a license. These include three groups of institutions participating in the HKMA's stablecoin sandbox, all of which plan to issue Hong Kong dollar stablecoins. However, Hong Kong has warned of the risk of stablecoins "overheating" and hopes to comprehensively benchmark the issuance and supervision of stablecoins with the compliance framework of "traditional financial grade". The relevant system preparation and release rhythm are considered to have certain reference, including:
1. In terms of entry thresholds, fiat stablecoins "did not bloom" in the early days of legal landing in Hong Kong Special Administrative Region of China.
2. In terms of time nodes, the Hong Kong Special Administrative Region government's stablecoin licensing timeliness is expected to be issued within this year.
3. In terms of application scenarios, after the relevant institutions are issued licenses, the focus of their specific use scenarios and whether they can be linked to other fiat currencies are currently relatively uncertain.
Finance: At least 9 institutions are currently exploring applications for Hong Kong stablecoin licenses, and all three groups in the sandbox plan to issue Hong Kong dollar stablecoins
2025-07-08 03:42:33
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