JD.com, Standard Chartered, Ant Group, and other institutions are preparing to apply for Hong Kong stablecoin licenses

According to Yicai, the "Stablecoin Ordinance" will officially take effect on August 1st of this year, and the Hong Kong Monetary Authority will begin accepting license applications. Stablecoin licenses are scarce, and it is expected that only a single-digit number will be issued, but more than 40 companies are already preparing to apply. Law firms report that there are dozens more interested, making the competition fierce. Applicants are basically China's largest financial institutions and internet companies, including JD.com, Standard Chartered, Circle, Ant International, and AntChain, while some small and medium-sized enterprises have little chance of applying due to the high threshold. [Wu Shuo]