Caixin: Industry insiders say stablecoins are used as value transfer tools for cross-border payments to apply for Hong Kong Customs MSO license

Odaily Planet Daily News: The rapid development of stablecoins around the world in the first half of the year, and many people believe that stablecoins bring more imagination space to the internationalization of the RMB. With the Hong Kong Stablecoin Ordinance coming into effect on August 1, 2025, discussions on using RMB stablecoins to deal with the hegemony of the US dollar are endless. A Hong Kong cross-border trade blockchain technology practitioner said that according to relevant Hong Kong regulations, if stablecoins are used as value transfer tools for cross-border payments, the stablecoins exchanged for legal currency or remittance functions are all Money Services under the "Anti-Money Laundering Ordinance", and they need to apply for an MSO (Money Service Operator) license issued by Hong Kong Customs. (Caixin.com)