Hong Kong 🇭🇰 stablecoin license set to be issued‼️

According to market sources:
• Estimated 3—5 licenses to be issued
• Currently 36 institutions have applied
• Pass rate likely below 10%

The most concerned market question is:
Who is most likely to get the first batch of licenses?

Currently, several major camps are widely discussed in the industry, mainly including:

1. Internet and Industrial Capital Camp
• JD.com
• China Times Publishing
• Bonded Technology
• Cui Wei Co., Ltd.

2. Financial Technology Camp
• Ant Group related ecosystem
• Xineng Technology
• Langsin Technology
• Jinzheng Technology

3. Traditional Finance and Payment Camp
• Three major banking systems
• Yuyin Co., Ltd.
• Sifang Jingchuang
• Huafeng Superfiber

If looking at compliance capability + technical capability + financial strength,
the market generally believes:
Internet giants + banking system institutions
have higher probability of obtaining the first batch of licenses.

After all, the essence of stablecoins is:
a combination of financial infrastructure + regulatory technology.