Data: The distribution of stablecoin licenses in Hong Kong is expected to be in single digits, with dozens of interested applicants still in the preparation stage.

On July 8, according to a report by Yicai, Hong Kong's "stablecoin regulations" will come into effect on August 1 this year, at which point the Hong Kong Monetary Authority will begin accepting license applications. The stablecoin licenses in Hong Kong are relatively scarce and sought after, with an expected distribution of licenses in single digits. Currently, aside from those publicly announced such as JD.com, Standard Chartered, and Yuan Coin, more than 40 companies are preparing to submit applications, with law firms reporting that dozens of interested applicants are still in the consultation or material preparation stage. The applying institutions are mainly the largest Financial Institutions and internet companies in China, while some smaller enterprises hoping to apply face bleak prospects.