Hong Kong Monetary Authority: By the end of September, a total of 36 institutions have submitted their stablecoin license applications.

BlockBeats News, October 2nd, according to Netease News, the Hong Kong Monetary Authority revealed that as of September 30th, it had received stablecoin license applications from 36 institutions, including banks, tech companies, and other types of institutions.

The Hong Kong Monetary Authority will review the applications according to the Stablecoin Regulations, aiming to announce the first batch of licenses early next year, with only a few licenses to be issued in the initial stage.

Prior to this, the Monetary Authority had encouraged institutions intending to apply for a license to contact the Monetary Authority by August 31st and submit their applications by September 30th.