#MemecoinSentiment

Hong Kong sets the launch date for the restricted stablecoin licensing program in August 2025

Hong Kong will issue stablecoin licenses starting in August 2025, according to an announcement by Financial Services Secretary Christopher Hui. This plan will focus on cross-border payment solutions, targeting stablecoins linked to fiat currencies for international transactions. Hui emphasized that these digital assets could help reduce transaction costs and stabilize the economy against currency depreciation pressures. The government will maintain close oversight in the initial phase, issuing only a small number of licenses to ensure regulatory control. This development helps Hong Kong compete with Singapore, which already has a stable digital payment licensing regime. Currently, Tether (USDT) still leads the stablecoin market with a market capitalization of $159.52 billion, although trading volume has decreased by 46.65%.