Summary
HKMA is looking for applicants with a genuine interest in developing a stablecoin issuance business in Hong Kong. Applicants must have a reasonable business plan and proposed operations conducted within a limited scope and in a risk-controllable manner.
Key Points
1. Applicants must demonstrate a genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan.
2. Proposed operations under the sandbox arrangement must be conducted within a limited scope and in a risk-controllable manner.
3. The Hong Kong Monetary Authority (HKMA) is overseeing the application process for stablecoin issuers in Hong Kong.