Fosun International is moving closer to applying for a stablecoin license in Hong Kong in an effort to develop real-world asset tokenization products in the Web3 space.
Fosun has formed a team and held meetings with Hong Kong leaders to accelerate the stablecoin license application process, while expanding into RWA Token products through its subsidiary Star Road Technology.
MAIN CONTENT
Fosun International sets up team, meets with Hong Kong leaders to apply for stablecoin license.
The deadline for submitting stablecoin license applications is September 30 this year.
Fosun Wealth develops real-world asset tokenization products through Star Road Technology.
What steps is Fosun International taking to apply for a stablecoin license in Hong Kong?
Fosun International has organized a task force to apply for a stablecoin issuance license in Hong Kong. Founder Guo Guangchang personally led a delegation to meet with Hong Kong leaders, including Chief Executive John Lee and Financial Secretary Paul Chan, on August 6, 2024.
This meeting demonstrates Fosun’s strong commitment to the stablecoin market in the region, aiming to capitalize on the development opportunities of the crypto finance industry in Hong Kong.
When is the deadline for applying for a stablecoin license in Hong Kong and what is the process?
The stablecoin licensing process in Hong Kong has begun and participating organizations and businesses need to complete their applications before September 30, 2024. This is an important step to help parties comply with strict legal standards, ensuring transparency and safety for stablecoin users.
Completing the application by this deadline gives Fosun the opportunity to be licensed to issue stablecoins, expanding its operations in the legal cryptocurrency financial sector in Hong Kong.
How does Fosun Wealth develop real-world asset tokenization products?
Fosun’s asset management division has entered the Web3 space by developing a real-world asset tokenization (RWA Token) product through its subsidiary Star Road Technology. They have also registered the trademark “Star Coin” and related brands.
This strategy shows that Fosun applies Token technology to increase liquidity and transparency for traditional assets, contributing to diversifying investment portfolios and improving the efficiency of digital asset management.
Fosun International is committed to promoting the legal stablecoin market in Hong Kong by meeting regulatory standards and developing real-world asset tokenization products.
Guo Guangchang, Founder of Fosun International, August 2024
Frequently Asked Questions
What Does a Hong Kong Stablecoin License Mean for Fosun?
The license helps Fosun issue stablecoins legally, enhancing its reputation and business capabilities in the cryptocurrency finance sector in Hong Kong.
What kind of asset tokenization products will Fosun develop?
Fosun focuses on Real Asset Tokenization (RWA Token) products through the project implemented by Star Road Technology.
When is the deadline for submitting stablecoin license applications?
Applications for stablecoin licenses in Hong Kong must be submitted by September 30, 2024.
Who leads Fosun's stablecoin licensing team?
Founder Guo Guangchang directly leads the team to apply for a stablecoin license.
Does Fosun Wealth have any new stablecoin-related trademark registrations?
Fosun Wealth has registered the trademark “Star Coin” and several other related trademarks.
Source: https://tintucbitcoin.com/fosun-international-du-kien-xin-phep-stablecoin-hong-kong/
Thank you for reading this article!
Please Like, Comment and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
