CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-07-08 12:54:10

More than 40 companies are in fierce competition to issue stablecoins in Hong Kong: report

The race for stablecoin licenses in Hong Kong is heating up, with dozens of firms preparing to apply ahead of the new regulatory framework set to go live. According to a recent report by local media outlet First Financial, more than 40 companies are preparing to apply for the soon-to-be-launched Hong Kong stablecoin license. Applicants reportedly include JD.com and Ant Capital, with anticipation mounting as the August 1 rollout date nears after months of regulatory work to finalize the framework amid growing market interest. However, local industry sources say the number of licenses regulators will issue is expected to be limited, potentially in the single digits, despite the high level of demand. “Hong Kong’s stablecoin licenses are still relatively scarce. More than 40 companies have submitted applications, and law firms have reported that there are dozens of companies that intend to apply. The competition is very fierce,” one expert reportedly said. The comments suggest a cautious approach by the regulator to keep the sector controlled to ensure oversight and investor protection. Earlier in the year, the Hong Kong Monetary Authority (HKMA) outlined a strict set of requirements for approval, including robust risk controls, compliance with anti-money laundering rules, and a clear demonstration of real-world use cases for any stablecoin issued. You might also like: Chinese authorities warn of stablecoin fraud amid rising local buzz Financial Secretary Paul Chan said the government is taking a step-by-step approach to the stablecoin regime, starting with building a regulatory foundation and initially focusing on fiat-pegged tokens. Chan also explained that the broader goal is to position Hong Kong as a competitive global hub by attracting stablecoin issuers from around the world. The country’s push is part of a broader overhaul of its digital asset policy. On June 26, regulators introduced a new “LEAP” framework, under which the stablecoin licensing regime will officially roll out. Additionally, it will set the stage for future pilot programs testing stablecoin use in everyday scenarios such as payments and other financial services. As part of the initiative, the government also plans to promote collaboration between public agencies and industry players to help build the underlying infrastructure for the fiat-backed digital assets. Read more: Hong Kong accelerates stablecoin licensing to tap into global market boom

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta