🇭🇰 Hong Kong May Limit First Round of Stablecoin Licenses to 3–4 Issuers

According to sources, the HKMA, after communications with the PBOC, may narrow the scope of initial stablecoin licenses to just three to four entities. Under the regulatory MoU, Hong Kong bears primary supervisory risk.

Several Chinese state-owned banks and brokers are actively exploring stablecoin issuance and custody in Hong Kong, including:

BOC Hong Kong

Bank of Communications (HK)

CCB (Asia)

CMB International

Guotai Junan International

Insiders note:

“China has yet to build a globally influential public blockchain.”

Another suggests:

“A national backbone chain should be led by SOEs, while industry chains can be market-driven.”

#HongKong #Stablecoin