Source: Hong Kongs stablecoin issuer license will be similar to the invitation system

Odaily News Sources revealed that the Hong Kong Stablecoin Ordinance will come into effect on August 1, 2025, and the application for stablecoin licenses will be launched at the same time. The license for stablecoin issuers will not be issued by applicants downloading forms and submitting written applications on their own, but will be arranged in a similar invitation application system.
In practical terms, the Hong Kong Monetary Authority, which is responsible for supervising and issuing licenses, will communicate with potential applicants for stablecoin licenses in advance to understand whether the other party meets the basic application qualifications. Only after obtaining basic approval in the pre-communication will the HKMA issue the application form. (Caixin)