🚨 JUST IN: Hong Kong to Issue Limited Stablecoin Licenses in 2025 🇭🇰💼
Christopher Hui, Secretary for Financial Services and the Treasury, has confirmed that Hong Kong will start issuing stablecoin licenses before the end of 2025 — but only a "single-digit" number will be approved. 🔒
📌 Key Points:
The licensing regime begins around August 2025
Only highly qualified applicants will be approved ✅
Licensees must hold 100% asset reserves and meet capital & custody requirements 💰
Focus is currently on HKD-pegged stablecoins, with lobbying for offshore RMB tokens underway 🇨🇳
🎯 The goal? Position Hong Kong as a global hub for regulated stablecoins, boosting cross-border payments and investor confidence 🌍🚀
Big players like Ant Group are already preparing their applications. Are we witnessing the next stablecoin race? 🏁👀