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

[Hong Kong Stablecoin License Application Window Opens, Issuers Expected to Seize Opportunities] On August 1, Hong Kong's "Stablecoin Regulation" officially came into effect. According to reports, Bank of China ( Hong Kong ), Standard Chartered Bank ( Hong Kong ) and other issuing banks in the Hong Kong Special Administrative Region are essential participants. Whether for their own development needs or to comply with regulatory pushes, they are likely to be the first to apply for stablecoin issuer licenses. In addition, Chinese-funded banks, sandbox testing enterprises, large central state-owned enterprises, and internet giants with payment licenses are eager to try. Securities companies will initially undertake more stablecoin trading, custody, financing, consulting and other services, 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 )