First Financial: Currently, several companies including JD.com, Standard Chartered, and Ant Group are preparing to apply for a Hong Kong stablecoin license, and the competition is extremely fierce

ChainCatcher news, according to Caixin, more than 40 companies are currently preparing to apply for stablecoin licenses in Hong Kong, including JD Coin Chain, Standard Chartered-Anheuser-Busch HKT consortium, Yuan Coin Innovation, and Ant International, but the final number of licenses issued is expected to be in single digits, making the competition extremely fierce.

Industry insiders point out that the applying institutions are mainly large Chinese financial institutions and internet companies, with some companies already actively recruiting blockchain talent.

Experts believe that while stablecoins can improve the convenience of cross-border payments, their actual cost is close to 1%, and the disruptive impact on the international monetary system is exaggerated.