Hong Kong Monetary Authority: Open but Cautious on Issuing Additional Stablecoin Issuer Licenses

Odaily News: Recent market reports suggest that as the first batch of stablecoin issuers advance testing and business preparations, Hong Kong's stablecoin issuance may further accelerate, with a second batch of stablecoin issuer licenses potentially being granted around the National Day holiday. In response to the aforementioned market rumors, a spokesperson for the Hong Kong Monetary Authority (HKMA) replied today that the authority does not comment on market rumors, but remains open yet cautious regarding whether to issue additional stablecoin issuer licenses and the timing thereof, with no clear inclination at this stage. The spokesperson further stated that the HKMA's current focus is on facilitating the two licensed stablecoin issuers in their business preparations, and after they successfully issue compliant stablecoins, the authority will observe the implementation of relevant use cases, operational effectiveness, and market responses.