Summary
- It has been announced that the Stablecoin Ordinance will officially take effect in Hong Kong on August 1.
- Applications for stablecoin issuance licenses are expected to open around the same time.
- More than 40 companies are preparing to apply for licenses, but only a few are expected to be granted.
It has been announced that the Hong Kong Stablecoin Ordinance will officially take effect from August 1 (local time).
On the 8th (local time), WuBlockchain stated via X (formerly Twitter), "Starting from August 1, the Hong Kong Stablecoin Ordinance will come into effect," adding, "Applications for stablecoin issuance licenses are also scheduled to open."
So far, it is known that more than 40 companies, in addition to JD.com and Standard Chartered, are preparing to apply for the Hong Kong stablecoin license. However, only a very limited number of licenses are expected to be granted.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
