Hong Kong media: The number of institutions planning to apply for Hong Kong stablecoin licenses has increased to 50-60, while industry insiders say only 3-4 have been approved in the first phase
2025-07-14 01:12:42
According to Hong Kong 01, the number of institutions planning to apply for Hong Kong stablecoin licenses has increased to 50-60, half of which are payment companies and the other half are Internet companies, and most of them have Chinese-funded backgrounds, which may mean that market competition has begun. Industry insiders believe that after the Hong Kong stablecoin ordinance comes into effect on August 1, there will be a large influx of applications, but it is expected that only 3-4 will be approved in the first phase, and the total number will not exceed 10. In addition, the initial stage of pegged currencies may be Hong Kong dollars and US dollars, and the supervision of offshore RMB stablecoins may require the participation of the central bank
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