Gm #BNB
CITIC Securities: Continue to monitor the two main themes: issuers likely to obtain the first batch of stablecoin licenses, and scenario platforms that are certain to participate in the creation of stablecoin use cases.
A CITIC Securities research report indicates that on July 29, the HKMA issued a series of documents regarding the regulatory regime for stablecoin issuers, which will take effect on August 1. The core document is the "Guidelines for the Supervision of Licensed Stablecoin Issuers," while the most relevant guideline for the current application stage is the "Summary of the Licensing Regime for Stablecoin Issuers."
Looking at the timeline, the HKMA encourages prospective applicants to contact the regulator before August 31, and the application deadline for mature applicants is September 30. The number of licenses issued in the first batch is only in the single digits, and they are expected to be issued before the end of the year. It is recommended to continue monitoring the two main themes: issuers likely to obtain the first batch of scarce licenses, and scenario platforms that are certain to participate in the creation of stablecoin use cases.
