Hong Kong Monetary Authority: As of the end of September, a total of 36 institutions have submitted applications for stablecoin licenses.

Jinse Finance reported that the Hong Kong Monetary Authority (HKMA) has revealed that as of September 30, it has received stablecoin license applications from 36 institutions, including banks, technology companies, and other types of organizations. The HKMA will review the applications in accordance with the "Stablecoin Ordinance" and aims to announce the first batch of licenses early next year, with only a few licenses to be issued in the initial phase. Previously, the HKMA had encouraged institutions interested in applying for licenses to contact the HKMA by August 31 and submit their applications by September 30. (Every Economic Daily)