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Companies such as JD.com, Standard Chartered, and Ant Group are preparing to apply for a stablecoin license in Hong Kong.
[JD.com, Standard Chartered, Ant Group and other companies prepare to apply for Hong Kong stablecoin licenses] According to Yicai Global, more than 40 companies are currently preparing to apply, including JD Coin Chain, Standard Chartered-ANZ-HKT consortium, Yuan Coin Innovation, and Ant International. However, it is expected that only a single-digit number of licenses will ultimately be issued, making the competition exceptionally fierce. Industry insiders point out that the applying institutions are mainly large Chinese financial institutions and internet companies, with some businesses actively recruiting blockchain talent. Experts believe that while stablecoins can enhance the convenience of cross-border payments, their actual cost is close to 1%, and the disruptive impact on the International Monetary System is exaggerated.