77 institutions expressed their intention to apply for Hong Kong stablecoin licenses, but the HKMA only arranged a preliminary meeting

As of the end of August, the Hong Kong Monetary Authority (HKMA) had received expressions of interest from 77 institutions seeking stablecoin issuer licenses, including banks, technology companies, securities and asset management firms, e-commerce companies, payment institutions, and Web3 startups. The HKMA has been arranging meetings with the relevant institutions, emphasizing that expressions of interest and meetings do not constitute approval, and that final licensing will depend on whether the application meets the requirements. Initially, only a limited number of licenses will be granted, and the public is reminded to be wary of unlicensed stablecoin advertising.