Circle Lianchuang: Intends to establish business in Hong Kong and will consider applying for a license after understanding the new stablecoin regulations.

The Hong Kong government aims to submit the stablecoin issuer system to the Legislative Council for review before the end of the year, and some large international stablecoin issuers have expressed interest in this. Jeremy Allaire, co-founder and CEO of Circle, the world's second largest stablecoin USDC issuer, said that Hong Kong is an important market for USDC and intends to hire more employees and establish business in Hong Kong. He is waiting for the introduction of new stablecoin regulations in Hong Kong and will consider applying for a license after understanding the regulations. In addition, Chen Qinqi, vice president of Circle Asia Pacific, said that Hong Kong has great advantages in developing stablecoins, including the ability to achieve same-day US dollar settlement and the largest capital market in the Asia-Pacific region. In addition, with the backing of the mainland market and other factors, he believes that Hong Kong has the opportunity to develop into an international stablecoin center and believes that the Hong Kong version of stablecoins will have considerable market demand. (Hong Kong Economic Journal)