Fosun is seeking a stablecoin license in Hong Kong.

AI Summary

According to BlockBeats, Fosun has confirmed its application for a stablecoin license in Hong Kong and has assembled a dedicated team for this purpose. On August 6, Fosun's founder, Guo Guangchang, met with Hong Kong's Chief Executive John Lee and Financial Secretary Paul Chan in a single day, leading key members of the stablecoin team and other executives.

Fosun Wealth, a subsidiary of Fosun, has already made progress in the digital assets sector through the Xinglu technology platform. This includes participating in the distribution of tokenized products from Huaxia Fund and developing a real-world asset (RWA) tokenization platform.

According to the schedule of the Hong Kong Monetary Authority, interested institutions can start contacting regulators after August 1 and must submit their license application materials by September 30. As of the time of reporting, Fosun has not commented on the matter.