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

On July 8 (UTC+8), July 8, more than 40 companies are preparing to apply, including JD Coinlink, Standard Chartered-Anif-HKT Consortium, Yuancoin Innovation, and Ant International, but it is expected that only a single-digit number of licenses will be issued in the end, and the competition is extremely fierce. Industry insiders pointed out that the applicant institutions are mainly large Chinese financial institutions and Internet companies, and some companies have begun to actively recruit blockchain talent. Experts believe that although stablecoins can improve the convenience of cross-border payments, their actual cost is close to 1%, and their disruptive impact on the international monetary system is exaggerated. (Source: TechFlow) [MetaEra]