Securities Times: Bank of China, Standard Chartered, and Other Note-Issuing Banks Expected to Be Among the First to Receive Hong Kong Stablecoin Licenses
ChainCatcher reports that, according to Jintou Data citing Securities Times, Hong Kong's "Stablecoin Regulation" has officially come into effect. The Hong Kong Monetary Authority has issued the "Guidelines for the Supervision of Licensed Stablecoin Issuers," which clearly outline the requirements for license applications. Securities Times has learned that note-issuing banks such as Bank of China (Hong Kong) and Standard Chartered Bank (Hong Kong) are expected to be among the first to apply for and obtain stablecoin issuer licenses. In addition, Chinese-funded banks, sandbox testing companies, large central state-owned enterprises, and major internet companies are also actively preparing to apply. In the initial phase, securities firms will mainly provide services such as stablecoin trading, custody, and financing.
As of the end of July, 44 financial institutions have upgraded to Type 1 securities trading licenses. Industry insiders caution that the commercial model for stablecoins remains unclear, and investors should be wary of speculative hype and associated risks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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