Hong Kong stable coin license application window opens, central bank expected to seize the opportunity.

On August 1st, the "Stable Coin Regulation" in Hong Kong officially took effect. Reporters learned that banks such as Bank of China and Standard Chartered Bank in the Hong Kong Special Administrative Region are essential entities in this regulation. Whether it is for their own development needs or to comply with regulatory requirements, it is highly likely that they will be the first to apply for a stable coin issuer license. In addition, Chinese banks, sandbox testing companies, large state-owned enterprises, and internet giants with payment licenses are also eager to try. Securities companies will initially take on more responsibilities in stable coin trading, custody, financing, consulting, and provide digital asset allocation services related to traditional asset tokenization. Currently, 44 securities firms and other institutions have upgraded their virtual asset trading licenses, with 3 new ones added compared to the end of June.