Hong Kong Monetary Authority: Non official statement on stablecoin license 'invitation system', institutions can proactively communicate licensing matters

According to BlockBeats, on August 1st, officials from the Hong Kong Monetary Authority stated that the "invitation system" for stablecoin licenses is not an official statement, but rather a market interpretation. The 'by invitation' system does not fully reflect the licensing model of the Hong Kong Monetary Authority, as in fact, institutions that are willing or interested in applying can proactively communicate with the Hong Kong Monetary Authority in advance regarding licensing matters. A week ago, the Chief Executive of the Hong Kong Monetary Authority, Yu Weiwen, revealed that although it has been clarified that only a few stablecoin licenses will be granted in the initial stage, dozens of institutions have actively contacted the Monetary Authority team so far. The Hong Kong Monetary Authority also announced on July 29th that it encourages institutions interested in applying for licenses to contact the authority by August 31, 2025, so that the authority can convey regulatory expectations and provide appropriate feedback. Simultaneous licensing will be an ongoing process, and if individual institutions consider themselves fully prepared and wish to be considered as soon as possible, they should submit their applications to the Hong Kong Monetary Authority by September 30, 2025 or earlier. The Hong Kong Monetary Authority will maintain appropriate communication with institutions that have not been granted licenses in the first stage but intend to continue applying. In terms of licensing requirements, the Hong Kong Monetary Authority stated that institutions obtaining a stablecoin issuer license must meet three requirements: compliance (risk control), specificity (application scenarios), and sustainability (financial situation). In addition, the bureau emphasized that it will not disclose a list of institutions that express their intentions or submit applications to it.