Hong Kong Monetary Authority: There are a total of 77 institutions applying for a stablecoin license, and only a few licenses will be granted in the initial phase.

CoinVoice has recently learned that, according to Sing Tao Daily reports, a spokesperson for the Hong Kong Monetary Authority stated that as of August 31, there are a total of 77 intentions expressed to apply for a stablecoin license to the Monetary Authority. These institutions include banks, technology companies, securities/asset management/investment companies, e-commerce, payment institutions, startups/web3 companies, and more.

The Monetary Authority will not disclose the list of institutions that have expressed interest or formally submitted applications. The spokesperson emphasized that expressing interest or submitting an application for a stablecoin license, as well as communication between the Monetary Authority and relevant institutions, is merely part of the application process and does not constitute approval for any institution, nor does it imply any endorsement of their prospects for obtaining a license. Whether a license is ultimately granted will depend on whether the application meets the licensing criteria.

The spokesperson stated that it was made clear earlier that only a few stablecoin licenses would be granted in the initial stage. The Monetary Authority has been arranging meetings with interested institutions, hoping that the communication during this period will help these institutions seriously evaluate the necessity and maturity of their stablecoin issuance plans, thus deciding whether to submit a formal application. The Monetary Authority once again reminds citizens to remain vigilant against the promotion of unlicensed stablecoins.