China 33 Media (08087.HK) plans to apply for Hong Kong stablecoin license

On July 15, according to Glodon News, China 33 Media (08087.HK) announced that the group intends to apply for a Hong Kong stablecoin license. The required funds will be allocated from the net proceeds from the placement of new shares under the general authorization and the company's existing cash reserves. [PANews]