Recently, the Hong Kong Monetary Authority (HKMA) made an important statement regarding the application process for stablecoin licenses. The HKMA clearly stated that the previously circulated "invitation system" is not the official position, and in fact, any interested institution can communicate with the HKMA regarding licensing matters.

The senior management of the Monetary Authority has revealed that dozens of institutions are currently in contact with their team, indicating strong interest from the industry. To standardize the application process, the Monetary Authority has issued a notice encouraging institutions intending to apply for a license to contact them before August 31, 2025. This initiative aims to allow the Monetary Authority to clearly communicate regulatory expectations and timely collect feedback from the industry.

It is worth noting that the licensing process will continue. The Monetary Authority recommends that adequately prepared institutions submit formal applications by September 30, 2025. For institutions that have not yet obtained a license, the Monetary Authority remains open and welcomes continued communication.

The Monetary Authority emphasized that the issuance of licenses will focus on the performance of the applicant institutions in terms of compliance, specificity, and sustainability. To protect the privacy of the applicant institutions, the Monetary Authority stated that it would not publicly disclose the list of institutions expressing their intent or submitting applications.

This series of measures reflects the efforts of Hong Kong regulators to seek a balance between promoting financial innovation and maintaining market stability. By clarifying the application procedures and evaluation standards, Hong Kong hopes to take the lead in the global stablecoin regulatory landscape while ensuring the healthy development of the local financial market.