TechFlow News: On April 10, Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), announced that the HKMA has today granted the first batch of stablecoin issuer licenses. According to the licensees’ business plans, operations are expected to commence within the coming months, pending completion of related preparatory work.
Mr. Yue expressed his expectation that licensees will launch their businesses as planned, proactively exploring growth opportunities while effectively managing risks, promoting the use of compliant stablecoins, and addressing pain points in financial and economic activities. Meanwhile, members of the public should remain vigilant against any fraudulent activities or scams falsely claiming association with licensed issuers or their issued stablecoins. When purchasing or using stablecoins, individuals should only use regulated channels. If in doubt, they should consult the HKMA’s public register to verify a licensee’s status or contact the licensee directly for further clarification.
