Several institutions such as JD.com, Standard Chartered, Ant Group, and others are preparing for the Hong Kong stablecoin license, with the expected number of licenses to be issued in single digits.

BlockBeats News, July 8th, according to China's First Financial Daily report, the Hong Kong "Stablecoin Regulation" will take effect on August 1st this year, when the Hong Kong Monetary Authority will begin to accept license applications. Hong Kong stablecoin licenses are relatively rare and highly sought after, with the expected number of licenses to be issued in single digits. Apart from already officially announced applicants such as JD.com, Standard Chartered, RoundCoin, more than 40 companies are preparing to submit applications, with law firms indicating that dozens of companies interested in applying are currently in the consultation or preparation stage. The applying institutions are mostly China's largest financial institutions and internet companies, while some small enterprises intending to apply have slim hopes.