TechFlow, on October 2, according to Jinshi Data, the Hong Kong Monetary Authority revealed that it has received stablecoin license applications from 36 institutions as of September 30, including banks and technology companies. The Authority will review applications under the Stablecoin Ordinance and aims to announce the first batch of licenses at the beginning of next year, issuing only a few licenses in the initial phase. Previously, the Authority encouraged institutions interested in applying to contact it by August 31 and submit formal applications by September 30. (Yicai.com)
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