Small Commodity City said it will submit a license application as soon as Hong Kong's stablecoin regulations are clarified

Odaily News Regarding whether it is preparing to apply for a Hong Kong stablecoin license, the Small Commodity City stated on the interactive platform on the 18th that the company operates the world's largest small commodity trading market and naturally has massive and high-frequency cross-border trade settlement scenarios. Innovative payment tools such as stablecoins have the potential to provide more efficient and low-cost cross-border payment solutions for global merchants, especially small and medium-sized enterprises, which is in line with our purpose of serving physical trade. We welcome and support Hong Kong's positive progress in the stablecoin regulatory framework. The company's cross-border payment platform "YiwuPay" will continue to pay attention to the progress of relevant regulations, and will actively evaluate and submit relevant applications as soon as possible after the regulations are clear and the path is unblocked. (Jinshi Data APP)