TechFlow, on September 1, according to the Hong Kong Economic Times, the Hong Kong Monetary Authority (HKMA) announced that in the first month after the implementation of the Stablecoin Ordinance, it received 77 expressions of interest from applicants including banks, technology firms, securities and asset management companies. The HKMA stated it will prudently process applications initially, issuing only a few licenses. Authorities have been meeting with relevant institutions and advised well-prepared applicants to submit formal applications by the end of September. The HKMA emphasized that expressions of interest do not constitute any approval or endorsement, and reminded the public to remain vigilant against marketing of unlicensed stablecoins.
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