Source: Hong Kong stablecoin license review will be conducted under the invitation application system

Foresight News, according to Caixin, sources revealed that the license of the stablecoin issuer will not be carried out by the applicant downloading the form and submitting a written application in a unified manner, but will be arranged in a similar invitation application system. "At the practical level, the HKMA, which is responsible for supervising the issuance of licenses, will communicate with the interested applicant for stablecoin licenses to understand whether the other party meets the basic application qualifications. Only when the basic recognition is obtained in the pre-communication will the HKMA issue the application form."
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