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Securities Times: Bank of China, Standard Chartered, etc. expected to be the first to obtain Hong Kong stablecoin license
Summary: According to Securities Times citing Jinshi data, the Hong Kong 'Stablecoin Ordinance' has officially come into effect, and the Hong Kong Monetary Authority has issued the 'Licensed Stablecoin Issuer Regulatory Guidance,' clarifying the various thresholds for issuer license applications. Securities Times learned that Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), and other ...
According to Securities Times citing Jinshi data, the Hong Kong 'Stablecoin Ordinance' has officially come into effect, and the Hong Kong Monetary Authority has issued the 'Licensed Stablecoin Issuer Regulatory Guidance,' clarifying the various thresholds for issuer license applications. Securities Times learned that Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), and other note-issuing banks are expected to be the first to apply for and obtain stablecoin issuer licenses. In addition, Chinese banks, sandbox testing companies, large state-owned enterprises, and internet giants are also actively preparing to apply. Initially, securities firms will mainly provide stablecoin trading, custody, financing, and other services. As of the end of July, 44 financial institutions have upgraded to the first-tier securities trading license. Industry insiders caution that the stablecoin business model is still unclear, and investors need to be wary of speculative concepts and risks.
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Link: Securities Times: Bank of China, Standard Chartered, etc. expected to be the first to obtain Hong Kong stablecoin license [Copy]
