Chen Maobo: Hong Kong Monetary Authority will process stablecoin license applications as soon as possible

The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, recently wrote that with the booming development of the digital asset market, the demand for stablecoins is expected to further increase. Stablecoins can be used as a trading medium without traditional payment time and geographical restrictions, and can also explore diversified innovative solutions based on their programmable features, making financial service processes automated and intelligent. It has been noticed that many market participants are very interested in this. After the implementation of the Stablecoins Ordinance, the Hong Kong Monetary Authority will process the license applications received as soon as possible, so that eligible applicants can carry out their business. (21st Century Business Herald)