Ant International and Lianlian Digital are in the process of applying for stablecoin licenses in Hong Kong in line with the new guidelines set by the Hong Kong Monetary Authority (HKMA). Both companies aim to enhance transparency and operational security.
Seeking Compliance with HKMA
Ant International and Lianlian Digital are looking to obtain licenses under the new regulatory framework from HKMA. Ant International is associated with Ant Group, while Lianlian Digital is pursuing similar compliance. Bian Zhuoqun, Vice President of Ant Group, emphasizes the importance of building a compliant trading ecosystem.
Regulatory Changes and Market Impact
The new regulatory approach in Hong Kong could reshape international stablecoin dynamics. Players like Mastercard are preparing for stablecoin integration, aiming for 2025.
Prospects for a Stable Stablecoin Market
Regulatory movements highlight the potential for a stabilized stablecoin market. Research from Coincu suggests that an increasing focus on compliance will drive strategic growth in the digital currency sector, enhancing transparency and adoption.
The applications from Ant International and Lianlian Digital for licenses reflect the companies' readiness to adhere to new regulatory standards, which may lead to the development of a more stable and regulated stablecoin market.
