Hong Kong Monetary Authority: Open but cautious stance on issuing additional stablecoin issuer licenses; no clear timeline at this stage

TechFlow news, August 06, according to Cailianshe, recent market information indicates that as the first batch of stablecoin issuers advance testing and business preparation, Hong Kong stablecoin issuance may accelerate further, with the possibility that the second batch of stablecoin issuer licenses may be granted around National Day.

In response to the aforementioned market rumors, a spokesperson for the Hong Kong Monetary Authority replied to Cailianshe reporters today, stating that no comment would be made on market rumors, but regarding whether to issue additional stablecoin issuer licenses and the timing, the HKMA maintains an open yet cautious attitude, with no clear inclination at this stage. The spokesperson further stated that the current focus of the HKMA's work is to advance the business preparation of the two licensed stablecoin issuers, and after they successfully issue compliant stablecoins, observe the implementation of relevant application scenarios, operational effectiveness, and market response. As for whether to issue additional licenses in the future, multiple factors need to be comprehensively considered, including whether applications meet licensing requirements, market demand for stablecoins, actual application situations, as well as development trends and regulatory discussions at the international level, etc.