Fosun confirms application for Hong Kong stablecoin license

Fosun Group has confirmed its application for a Hong Kong stablecoin license and has formed a complete application team. On August 6th, founder Guo Guangchang led a team to visit Hong Kong Chief Executive Li Jiachao and Financial Secretary Paul Chan. Fosun Wealth, a subsidiary of Fosun, has established its presence in the digital asset field, including participating in the distribution of tokenized products for monetary funds and developing a physical asset tokenization platform. According to the schedule of the Hong Kong Monetary Authority, applying institutions need to submit materials before September 30th. Fosun has no comment on this at the moment.