Hong Kong's stablecoin regulation attracts many institutions to apply for licenses

According to Shenzhen Chao TechFlow, Mai Yingcong, head of development research at the Greater Bay Area of ​​Unity Hong Kong Fund, said that Hong Kong's stablecoin supervision and policy directions are clear, attracting many institutions to apply for licenses, and their intentions far exceed expectations. Large tech companies may use stablecoins in payment scenarios, while traditional financial institutions may use cross-border settlement. If the first batch of stablecoins licensed institutions work well, it will promote the Hong Kong Monetary Authority to issue additional licenses in the future.