The Hong Kong Monetary Authority's stablecoin licenses will be issued after the Two Sessions, with the first batch being fewer than 4 companies

According to the Hong Kong Economic Journal, the first batch of licenses for stablecoins in Hong Kong will be issued after the two sessions, with fewer than 4 licenses in the first batch. It is reported that Yuan Coin Technology, which participated in the Hong Kong Monetary Authority's "sandbox" testing for stablecoin issuers, will not be among the first batch to receive stablecoin licenses.

The Hong Kong Monetary Authority previously revealed that it received stablecoin license applications from 36 institutions in the first round, but emphasized that the number of licenses in the first batch will definitely not be large, aiming for prudence and stability.