Hong Kong Monetary Authority: 77 expressions of interest received for stablecoin license applications, only a few licenses will be issued in the initial stage
A spokesperson for the Hong Kong Monetary Authority (HKMA) stated that as of August 31, a total of 77 entities have expressed their intention to apply for a stablecoin license to the HKMA. These entities include banks, technology companies, securities/asset management/investment firms, e-commerce companies, payment institutions, and startups/web3 companies. The HKMA will not disclose the list of entities that have expressed interest or formally submitted applications. The spokesperson emphasized that expressing intention or submitting a stablecoin license application, as well as communication between the HKMA and relevant entities, are merely parts of the application process and do not constitute approval of any entity, nor do they imply any endorsement of the prospects for license approval. Whether a license is ultimately granted will depend on whether the application meets the licensing requirements.
The spokesperson stated that it has been clearly indicated earlier that only a few stablecoin licenses will be issued in the initial phase. The HKMA has been arranging meetings with interested entities, hoping that communication during this period will help these entities seriously assess the necessity and maturity of their stablecoin issuance plans, and thus decide whether to submit a formal application. The HKMA once again reminds the public to remain vigilant against the promotion of unlicensed stablecoins.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
South Korea’s FSC nominee throws ‘volatile’ crypto under the bus
Share link:In this post: Lee Eok-won, the nominee for the Financial Services Commission chair, declared his first public stance on virtual assets. Lee believes the youth demographic is increasingly drawn to crypto investments, which could lead to significant financial losses due to their volatile nature. The industry has responded to his stance with ire, as many think it spells doom for the future of crypto in the country.
California’s $4 trillion economy at risk amid immigration crackdown
Share link:In this post: A study warns that stricter immigration enforcement could cost California up to $278 billion in GDP. California’s $49 billion agriculture industry employs a large share of immigrant labor. More than 60% of California’s construction workforce is foreign-born.
EU commits to signal jamming tech after Russia disrupts EU president’s travel plans
Share link:In this post: Russia became the suspect after Von der Leyen’s plane was disrupted by GPS jamming in Bulgaria. GPS interference has surged across Europe since the Ukraine war, affecting flights, ships, and communications beyond border regions. The union will deploy new low Earth orbit satellites and strengthen its own GPS system to counter electronic warfare.

El Salvador to host world’s first government-backed Bitcoin conference
Share link:In this post: El Salvador will host the world’s first government-backed Bitcoin conference in November 2025. The El Salvador event will feature workshops, keynote addresses, and top industry speakers worldwide. Bitcoin is recovering above $109K as investors watch for a possible US Fed rate cut.

Trending news
MoreCrypto prices
More








