Gate News: On March 11, it was reported that the Hong Kong Monetary Authority’s first batch of stablecoin licenses will be issued after the Two Sessions, with fewer than four companies initially receiving licenses. It is understood that RD Technologies, the issuer of the stablecoin participating in the MAS sandbox testing, will not be among the first to receive a license. The company was founded by former Hong Kong Monetary Authority Chief Executive Chen De-lin. The HKMA previously revealed that a total of 36 institutions had submitted applications for stablecoin licenses in the first round, but emphasized that the number of licenses issued initially would be limited, with a cautious and prudent approach.
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