Securities Times: Bank of China, Standard Chartered and other issuing banks are expected to be the first to obtain Hong Kong stablecoin licenses

ChainCatcher news, according to Jinshi Data citing Securities Times, the Hong Kong "Stablecoin Regulation" has officially come into effect. The Hong Kong Monetary Authority has released the "Regulatory Guidelines for Licensed Stablecoin Issuers," which clarify the various thresholds for issuer license applications. Securities Times has learned that Bank of China (Hong Kong), Standard Chartered Bank (Hong Kong), and other issuing banks are expected to be 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. Brokerage firms will initially mainly provide services such as stablecoin trading, custody, and financing.

As of the end of July, 44 financial institutions have upgraded to the Type 1 Securities Trading License. Industry insiders remind that the business model of stablecoins is still unclear, and investors should be cautious of concept hype and risks.