On July 8th, according to China Business News, Hong Kong's "Stablecoin Ordinance" will take effect on August 1st of this year, at which time the Hong Kong Monetary Authority will begin accepting license applications. Hong Kong stablecoin licenses are relatively scarce and highly sought after, with the number of licenses expected to be issued in the single digits. However, in addition to JD.com, Standard Chartered, and Circle, which have already been officially announced, more than 40 companies are preparing to submit applications. Law firms report that there are still dozens of intended applicants currently in the consultation or material preparation stage. The applicant institutions are basically China's largest financial institutions and Internet companies, while some small companies that intend to apply have little hope. [BlockBeats]

Data: Hong Kong stablecoin licenses are expected to be issued in the single digits, with dozens of intended applications still in the preparation stage