Chen Maobo: The Hong Kong Monetary Authority will process stablecoin license applications as soon as possible

ChainCatcher news, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, recently wrote that with the vigorous development of the digital asset market, the demand for stablecoins is expected to further increase. Stablecoins can serve as a medium of exchange without being restricted by traditional payment times and geographical limitations, and their programmable features can open up diverse innovative solutions, automating and smartening financial service processes. Noting that many market participants are very interested in this, the Hong Kong Monetary Authority will process the received license applications as soon as possible after the "Stablecoin Regulation" comes into effect, so that eligible applicants can commence their business. (21st Century Business Herald)