The Hong Kong Monetary Corporation’s invitation to Stablecoin Exporters has sparked modern gold, as 77 diverse companies have strengthened the claim. However, the organizer has begun in a deliberate diversification process aimed at separating viable projects really from mere ambitions in an attempt to ensure the stability of the market.
summary
- Hong Kong 77 cash body has received an expression of the benefit of Stablecoin licenses by August 31.
- The applicants include banks, Fintech companies, asset managers, start -up companies and state -owned institutions.
- No licenses will be released until 2025 as organizers who carefully provide veterinary offers.
According to the locality of September 1 a report According to the criterion, HKMA confirmed that it had received 77 expression of interest in the upcoming Stablecoin licensing system on August 31.
The applicants are not only the usual suspects. It is a wide union of traditional banks, major payment treatments, asset managers and even WEB3 startups, all of which compete for a seat on the table.
In a step that emphasizes the sensitivity of the process, the organizer was installed immediately on speculation, and it refused to name any of the applicants and clarify frankly that expressing interest is just a first step, away from approval.
Large names Stablecoin Gate
While HKMA maintains a narrow cover in the official list of applicants, previous reports indicate a list of heavy hikers. Benefits range from global banking institutions such as Standard Charged to Fintech Behemoths such as Ant Group.
Perhaps the most news is the participation of state -owned institutions such as Petrochina Energy Giant Petrochina, which has publicly revealed feasibility studies on the use of Stablecoins for cross -border settlements. This diverse field emphasizes a critical point: the race is not only related to the original encoded companies; It relates to those who will control the following development of the digital payment infrastructure of international trade.
Despite this important rush, the Hong Kong license pipeline has been effectively frozen. The Stablecoin Law entered into force on August 1, however HKMA has already warned that the approvals are unlikely to some time in 2025.
The CEO of Daril Chan Wayman publicly attributed this schedule to the “heavy work burden” to examine complex applications, a task that it described as it requires tremendous due care.
It seems that the authority systematically explodes through the 77 expressions of interest, which is a process designed to be a strict candidate, with the goal is to ensure that the first entities that receive a license are not just technical efficiency but also have a bachelor’s support for bullets, and irreplaceable money laundering protocols.
https://media.crypto.news/2025/08/crypto-news-Hong-Kong-stablecoin-law-AI-option01.webp
2025-09-01 20:41:00
