according to the materials of the site - By Coincu
The Hong Kong Secretary for Financial Services, Christopher Hui, announced plans to issue a small number of stablecoin licenses starting in August 2025. This strategic move aims to utilize stablecoins for cross-border transactions.
The initiative aims to stabilize the economies of regions by providing alternatives to developing countries facing currency devaluation. It follows a carefully regulated approach to the integration of digital assets.
Clarification of Hong Kong's stablecoin licensing strategy for 2025
Minister Christopher Hui outlined Hong Kong's intention to issue stablecoin licenses starting in August 2025. This initiative aims to streamline cross-border transactions, with initial licensing expected to be limited to ensure comprehensive regulation.
Government objectives include supporting the use of stablecoins for international payments, particularly aiding economies with vulnerable currencies. This move, aimed at enhancing management efficiency, reflects Hong Kong's cautious yet positive stance on digital currency applications. 'If stablecoins based on fiat currencies become effective payment instruments, they could simplify cross-border transactions and reduce transaction costs.' - Christopher Hui
The gradual implementation of the Payment Services Act in Singapore has led to a noticeable increase in the market for digital payment licenses, aligning with Hong Kong's strategic regulation.
Data from CoinMarketCap shows that Tether (USDT) is trading at $1.00 with a market capitalization of $159.52 billion. Trading volumes have recently decreased by 46.65%. Over 90 days, USDT has shown a growth of 5.23%, reflecting stable dynamics amid market fluctuations.
According to Coincu, Hong Kong's regulatory measures are likely to create a competitive digital environment, fostering technological progress in tokenized financial products such as ETFs and metals. Historical trends indicate a promising but complex path for regional stablecoin integration.
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