Bank of China Hong Kong has applied for a stablecoin license! Competing for the first batch of issuance qualifications, Hong Kong's Web3 landscape is expanding again.
According to reports from Hong Kong media, Bank of China (Hong Kong) is planning to apply for a stablecoin issuer license in Hong Kong and is striving to become one of the first approved institutions. The deadline for the first batch of applications is the end of September, and this move may inject new momentum into Hong Kong's digital asset market. As regulatory policies gradually take effect and institutional funds accelerate their entry, Hong Kong is speeding up its efforts to build an international digital asset and Web3 hub.
Bank of China Hong Kong Targets Stablecoin Issuer License
According to reports from the Hong Kong Economic Journal citing informed sources, Bank of China Hong Kong has begun preparations to apply for a stablecoin issuer license and hopes to secure a place on the first batch of applicants. The Hong Kong Monetary Authority had previously clarified that the deadline for the first batch of applications is the end of September, and the market generally expects that the first approved institutions will play a key role in Hong Kong's digital asset ecosystem. Although neither Bank of China Hong Kong nor the Monetary Authority has commented on this, the industry believes that this move will help enhance Hong Kong's influence in the global stablecoin market.
Regulation and Innovation Go Hand in Hand: Hong Kong Accelerates the Construction of an International Digital Asset Center
Recently, Hong Kong Legislative Council member Ng Kit Cheung stated that Hong Kong is actively promoting the construction of an international digital asset center, emphasizing the importance of "innovation and compliance." He pointed out that DePIN (Decentralized Physical Infrastructure Network), which combines blockchain with the physical economy, is expected to reshape traditional industries such as the Internet of Things, energy, and transportation, becoming an important direction for the implementation of Web3 applications. Cyberport has recently attracted several overseas exhibitors to showcase projects that combine Web3 with the physical economy, indicating that a new blue ocean market is forming.
Institutional funds accelerate layout in the crypto market
The Hong Kong-listed company China Financial Leasing Group revealed in its latest interim results report that the weakness of the US dollar has driven Bitcoin's strength. The company has begun investing in the cryptocurrency industry and prefers holding physical cryptocurrency ETF products. The current portfolio includes the Southern Eastern Hong Kong Dollar Money Market ETF, BlackRock iShares Bitcoin Trust ETF, Huaxia Bitcoin ETF, and iShares Ethereum Trust ETF. This trend indicates that local institutions in Hong Kong are gradually incorporating digital assets into their investment perspective, bringing more liquidity to the market.
Global Crypto Adoption Scenario Expansion Driven by High Net Worth Individuals' New Demand
As Bitcoin prices soar, young high-net-worth entrepreneurs around the world are driving the demand for cryptocurrency payments in the luxury travel market. Private jet operators, luxury cruise companies, and boutique hotel groups are increasingly accepting cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin for payments. For example, the intercontinental flight fares of the private aviation brand Flexjet's FXAIR can reach up to $80,000, with recent booking volumes showing significant growth; Virgin Voyages has launched an annual pass valued at $120,000, supporting cryptocurrency payments; and SeaDream Yacht Club has introduced Bitcoin payment options in its high-end yacht services. These scenarios demonstrate that cryptocurrencies are gradually penetrating the high-end consumer sector, expanding their practical application as payment tools.
Conclusion
Bank of China Hong Kong plans to apply for a stablecoin issuer license, indicating that Hong Kong's pace in the regulation and innovation of digital assets is accelerating. With the gradual improvement of the regulatory framework, institutional capital entering the market, and the expansion of global cryptocurrency payment scenarios, Hong Kong is expected to become an international virtual asset hub alongside the United States and the UAE in the coming years. Investors can continue to pay attention to the development of Hong Kong's stablecoin license and the Web3 ecosystem layout to capture new market opportunities.
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Bank of China Hong Kong has applied for a stablecoin license! Competing for the first batch of issuance qualifications, Hong Kong's Web3 landscape is expanding again.
According to reports from Hong Kong media, Bank of China (Hong Kong) is planning to apply for a stablecoin issuer license in Hong Kong and is striving to become one of the first approved institutions. The deadline for the first batch of applications is the end of September, and this move may inject new momentum into Hong Kong's digital asset market. As regulatory policies gradually take effect and institutional funds accelerate their entry, Hong Kong is speeding up its efforts to build an international digital asset and Web3 hub.
Bank of China Hong Kong Targets Stablecoin Issuer License
According to reports from the Hong Kong Economic Journal citing informed sources, Bank of China Hong Kong has begun preparations to apply for a stablecoin issuer license and hopes to secure a place on the first batch of applicants. The Hong Kong Monetary Authority had previously clarified that the deadline for the first batch of applications is the end of September, and the market generally expects that the first approved institutions will play a key role in Hong Kong's digital asset ecosystem. Although neither Bank of China Hong Kong nor the Monetary Authority has commented on this, the industry believes that this move will help enhance Hong Kong's influence in the global stablecoin market.
Regulation and Innovation Go Hand in Hand: Hong Kong Accelerates the Construction of an International Digital Asset Center
Recently, Hong Kong Legislative Council member Ng Kit Cheung stated that Hong Kong is actively promoting the construction of an international digital asset center, emphasizing the importance of "innovation and compliance." He pointed out that DePIN (Decentralized Physical Infrastructure Network), which combines blockchain with the physical economy, is expected to reshape traditional industries such as the Internet of Things, energy, and transportation, becoming an important direction for the implementation of Web3 applications. Cyberport has recently attracted several overseas exhibitors to showcase projects that combine Web3 with the physical economy, indicating that a new blue ocean market is forming.
Institutional funds accelerate layout in the crypto market
The Hong Kong-listed company China Financial Leasing Group revealed in its latest interim results report that the weakness of the US dollar has driven Bitcoin's strength. The company has begun investing in the cryptocurrency industry and prefers holding physical cryptocurrency ETF products. The current portfolio includes the Southern Eastern Hong Kong Dollar Money Market ETF, BlackRock iShares Bitcoin Trust ETF, Huaxia Bitcoin ETF, and iShares Ethereum Trust ETF. This trend indicates that local institutions in Hong Kong are gradually incorporating digital assets into their investment perspective, bringing more liquidity to the market.
Global Crypto Adoption Scenario Expansion Driven by High Net Worth Individuals' New Demand
As Bitcoin prices soar, young high-net-worth entrepreneurs around the world are driving the demand for cryptocurrency payments in the luxury travel market. Private jet operators, luxury cruise companies, and boutique hotel groups are increasingly accepting cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin for payments. For example, the intercontinental flight fares of the private aviation brand Flexjet's FXAIR can reach up to $80,000, with recent booking volumes showing significant growth; Virgin Voyages has launched an annual pass valued at $120,000, supporting cryptocurrency payments; and SeaDream Yacht Club has introduced Bitcoin payment options in its high-end yacht services. These scenarios demonstrate that cryptocurrencies are gradually penetrating the high-end consumer sector, expanding their practical application as payment tools.
Conclusion
Bank of China Hong Kong plans to apply for a stablecoin issuer license, indicating that Hong Kong's pace in the regulation and innovation of digital assets is accelerating. With the gradual improvement of the regulatory framework, institutional capital entering the market, and the expansion of global cryptocurrency payment scenarios, Hong Kong is expected to become an international virtual asset hub alongside the United States and the UAE in the coming years. Investors can continue to pay attention to the development of Hong Kong's stablecoin license and the Web3 ecosystem layout to capture new market opportunities.