Industry insiders: Hong Kong's stablecoin licenses are expected to be in the single digits, but more than 40 companies are ready to submit applications

PANews reported on July 8 that according to a reporter from the First Financial Daily, industry insiders learned that stablecoin licenses in Hong Kong are relatively scarce and in high demand, and it is estimated that there will be only single-digit licenses. However, in addition to JD.com, Standard Chartered, Yuanbi, etc. that have already been officially announced, there are more than 40 companies preparing to submit applications. Law firms have reported that there are dozens of companies intending to apply, and they are currently in the consultation or material preparation stage. The competition is very fierce. The applicants are basically China's largest financial institutions and Internet companies, while some small companies that intend to apply have little hope.