Sources: Hong Kong Stablecoin Licensing Expected to Adopt Invitation-Only Application System

BlockBeats News, July 19 — Hong Kong’s “Stablecoin Regulation” will come into effect on August 1, 2025, and the application process for stablecoin licenses will be launched at the same time. According to two sources, the licensing process for stablecoin issuers will not involve applicants downloading forms and submitting written applications in a standardized manner; instead, it will be arranged through an invitation-based application system.

Regarding the so-called invitation-based application system, one source explained that in practice, the Hong Kong Monetary Authority, which is responsible for supervising licensing, will communicate in advance with potential stablecoin license applicants to assess whether they meet the basic eligibility requirements. Only those who receive preliminary approval during this pre-communication phase will be issued application forms by the HKMA.