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

Odaily News With the Stablecoin Ordinance to be officially implemented on August 1, 50 to 60 companies are currently interested in applying for Hong Kong stablecoin licenses, half of which are payment institutions and the other half are well-known Internet companies, most of which have Chinese capital backgrounds. The industry expects that only 3 to 4 licenses will be issued in the first phase, and the initial stablecoins will mainly be pegged to the Hong Kong dollar and the US dollar. (Hong Kong 01)