Hong Kong Financial Secretary: Demand for stablecoins will increase, and the Monetary Authority will process license applications as soon as possible.

MinerOldCannon · 2025-06-16T04:20:24+00:00

On June 16, Financial Secretary Paul Chan of the Hong Kong Special Administrative Region government recently stated in an article that with the vigorous development of the digital asset market, the demand for stablecoins is expected to further increase. Stablecoins can serve as a Medium of Exchange without being restricted by traditional payment times and geographical limitations, and their Programmability allows for the development of diverse innovative solutions, automating and intelligentizing Financial Service processes. Noting that many market participants are very interested in this, the Hong Kong Monetary Authority will process the received license applications as soon as possible after the "Stablecoin Regulation" comes into effect, so that qualified applicants can conduct their business.

MinerOldCannon

2025-06-16 04:20:24

On June 16, the Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, recently wrote that with the booming development of the digital asset market, the demand for stablecoins is expected to increase further. Stablecoins can serve as a Medium of Exchange without being restricted by traditional payment times and regions, and due to their Programmability, they can develop diversified innovative solutions to automate and intelligently enhance Financial Service processes. Noting that many market participants are very interested in this, after the “Stablecoin Ordinance” takes effect, the Hong Kong Monetary Authority will process the received license applications as soon as possible so that qualified applicants can carry out their businesses.

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