More than 50 companies in Hong Kong intend to apply for stablecoin licenses

According to ChainCatcher, as the "Stablecoin Regulation" will officially come into effect on August 1st, currently 50 to 60 companies are interested in applying for Hong Kong stablecoin licenses. Half of these are payment institutions, and the other half are well-known internet companies, most of which have Chinese backgrounds. The industry expects that only 3 to 4 licenses will be issued in the first phase, with initial stablecoins primarily pegged to the Hong Kong dollar and US dollar.