Hong Kong Receives 77 Stablecoin License Applications by August End

The Hong Kong stablecoin licenses programme has drawn 77 expressions of interest as of 31 August, the HKMA said. Interested institutions include banks, securities and asset managers, e-commerce and payment firms, technology companies, startups, and Web3 players. The regulator emphasised that names will not be disclosed and only a limited number of licences will be granted initially. It also clarified that expressions of interest or applications do not imply approval, with licences awarded solely to applicants meeting full regulatory requirements.