First Financial: More than 40 companies are preparing to apply for Hong Kong stablecoin licenses, with expected licenses in the single digits

According to Foresight News, the "Stablecoins Ordinance" will come into effect on August 1st this year, and the Hong Kong Monetary Authority will begin accepting license applications at that time. The reporter learned from insiders that the stable currency license in Hong Kong is relatively scarce and popular, and it is expected that the license is only a single digit. But at present, in addition to JD, Standard Chartered, yuan, etc., which have been officially announced, more than 40 enterprises are ready to submit applications, and the feedback from law firms is also dozens of intention applications. At present, it is in the stage of consultation or material preparation, and the competition is very fierce. The application agencies are basically the largest financial institutions and Internet companies in China, while some small enterprises who intend to apply are hopeless.