Caixin: Hong Kong may narrow the scope of the first batch of stablecoin licenses to three or four companies

ChainCatcher news, according to Caixin, Hong Kong may narrow the scope of the first batch of stablecoin licenses to three or four companies. The Hong Kong Monetary Authority has realized in its communication with the People's Bank of China that under the framework of the regulatory memorandum, the main regulatory responsibilities and risks are concentrated in the Hong Kong Monetary Authority. Several Chinese-funded banks' branches in Hong Kong and Chinese securities firms' branches in Hong Kong are eager to participate in the compliant stablecoin business in Hong Kong, including Bank of China Hong Kong, Bank of Communications Hong Kong, China Construction Bank (Asia), China Everbright International, and Guotai Junan International, involving stablecoin issuance, custody, and other businesses.

In addition, an insider stated in an interview related to stablecoins that there is currently no globally influential public chain in our country. Another insider suggested that the construction of a national-level backbone public chain should be led by central state-owned enterprises, while the construction of industry-level public chains could open up to market competition.