BlockBeats News, October 2nd, the Hong Kong Monetary Authority revealed that as of September 30th, it had received Stablecoin License applications from 36 institutions, including banks, tech companies, and other types of institutions.
The Hong Kong Monetary Authority will review the applications in accordance with the Stablecoin Regulation and aims to announce the first batch of licenses early next year, with only a few licenses issued in the initial stage.
Previously, the Monetary Authority encouraged institutions intending to apply for a license to contact them by August 31st and submit their applications by September 30th.
