Chan Mo-po: The Hong Kong Monetary Authority will handle stablecoin license applications as soon as possible.

GateUser-6433627c · 2025-06-16T03:29:20+00:00

The Financial Secretary of Hong Kong, Paul Chan, stated that as the digital asset market develops, the demand for stablecoins will increase. The Hong Kong Monetary Authority will promptly handle license applications after the "Stablecoin Ordinance" comes into effect to support the business operations of eligible applicants.

GateUser-6433627c

2025-06-16 03:29:20

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[Paul Chan: The Hong Kong Monetary Authority will process stablecoin license applications as soon as possible] Recently, Paul Chan, the Financial Secretary of the Hong Kong SAR Government, stated that with the rapid development of the digital asset market, the demand for stablecoins is expected to further increase. Stablecoins can serve as a Medium of Exchange without the traditional payment time and geographical restrictions, and their Programmability allows for the development of diversified innovative solutions, automating and smartening financial service processes. Noticing that many market participants are very interested in this, after the “Stablecoin Ordinance” comes into effect, the Hong Kong Monetary Authority will process the received license applications as soon as possible, so that qualified applicants can conduct their business. (21 Financial)

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