Over 50 Companies in Hong Kong Intend to Apply for Stablecoin Licenses

Odaily Planet Daily reports that with the Stablecoin Regulation set to take effect on August 1, there are currently 50 to 60 companies interested in applying for a Hong Kong stablecoin license. Half of these are payment institutions, while the other half are well-known internet companies, most of which have Chinese capital backgrounds. Industry insiders expect that only 3 to 4 licenses will be issued in the first phase, with the initial stablecoins mainly pegged to the Hong Kong dollar and the US dollar. (Hong Kong 01)