TechFlow, September 8 — According to a report by the Information Post, the Monetary Authority plans to issue only a few stablecoin licenses in the first phase. As of the end of last month, 77 institutions have expressed interest in applying. It is reported that Industrial and Commercial Bank of China (Asia) has indicated its application intent to the Monetary Authority, becoming another major Chinese-funded bank to express interest following Bank of China (Hong Kong). In addition, HSBC, Hong Kong's largest bank, has also expressed interest. Industry insiders believe Standard Chartered and Bank of China (Hong Kong) have a higher chance of being among the first to obtain licenses.
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