More than 50 companies intend to apply for Hong Kong stablecoin licenses

BlockBeats reported that on July 14, with the official implementation of the Stabilizing Currency Ordinance on August 1, 50 to 60 companies have intended to apply for the Hong Kong Stabilizing Currency License, half of which are payment institutions and the other half are well-known Internet companies, most of which have Chinese investment background. The industry expects that only 3 to 4 licenses will be issued in the first phase, and the initial stablecoin will mainly be pegged to the Hong Kong dollar and the US dollar.