The application window for stablecoin licenses in Hong Kong has opened, and issuing banks are expected to seize the opportunity.

[Hong Kong Stablecoin License Application Window Opens, Issuers Expected to Seize Opportunity] On August 1, Hong Kong’s “Stablecoin Ordinance” officially took effect. According to reporters, Bank of China ( Hong Kong ), Standard Chartered Bank ( Hong Kong ) and other issuing banks in the Hong Kong Special Administrative Region are indispensable entities. Whether for their own development needs or in response to regulatory push, they are likely to be the first to apply for stablecoin issuer licenses. In addition, Chinese-funded banks, sandbox testing companies, large central state-owned enterprises, and internet giants with payment licenses are all eager to try. Securities companies will initially take on more business related to stablecoin trading, custody, financing, consulting, etc., and provide digital asset allocation services related to traditional asset tokenization. Currently, 44 brokerages and other institutions have upgraded their virtual asset trading licenses, an increase of 3 compared to the end of June. ( Securities Times )