Yicai Global: Currently, many companies including JD.com, Standard Chartered, and Ant are preparing to apply for Hong Kong stablecoin licenses, and the competition is extremely fierce

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According to ChainCatcher and citing the first financial media, over 40 enterprises are currently preparing to apply, including JD Coin Chain, Standard Chartered-ANI-HKT consortium, Circle Innovation, and Ant International, but it is expected that only single-digit licenses will be issued, with extremely fierce competition.

Industry insiders point out that the applying institutions are mainly large Chinese financial institutions and internet companies, and some enterprises have already begun actively recruiting blockchain talent.

Experts believe that while stablecoins can improve cross-border payment convenience, their actual cost is close to 1%, and the disruptive impact on the international monetary system has been exaggerated.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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