JD.com, Standard Chartered, Ant Group, and Other Companies Prepare to Apply for Hong Kong Stablecoin License

According to a report by Jinse Finance, citing Yicai, more than 40 companies are currently preparing to apply, including JD CoinChain, the Standard Chartered–Ant–HKT consortium, Circle Innovation, and Ant International. However, it is expected that only a single-digit number of licenses will ultimately be issued, making the competition extremely fierce. Industry insiders point out that the applicants are mainly large Chinese financial institutions and internet companies, with some firms already actively recruiting blockchain talent. Experts believe that while stablecoins can improve the convenience of cross-border payments, their actual cost is close to 1%, and the disruptive impact on the international monetary system has been exaggerated.