Over 50 companies in Hong Kong intend to apply for stablecoin licenses

ChainCatcher news, with the "Stablecoin Regulation" set to officially take effect on August 1, currently 50 to 60 companies intend to apply for a Hong Kong stablecoin license, half of which are payment institutions and the other half are well-known internet companies, most of which have Chinese backgrounds. The industry expects that only 3 to 4 licenses will be issued in the first phase, with the initial stablecoins primarily pegged to the Hong Kong dollar and the US dollar.