Analysis: Hong Kong's stablecoin license application intention far exceeds expectations, and the HKMA may issue more licenses in the future

On September 3rd, Aastocks reported that Mak Wing-chung, Head of Greater Bay Area Development Research at the Hong Kong Unity Foundation, stated in an interview with RTHK that the clear regulatory and policy direction for stablecoins in Hong Kong has attracted numerous institutions, with current license application interest exceeding expectations. He believes large tech companies will favor stablecoins for payment scenarios, while traditional financial institutions may use them for cross-border settlement. If the first batch of licensed stablecoin institutions performs well, it will encourage the Hong Kong Monetary Authority to issue more licenses in the future.