HKMA announces stablecoin issuer sandbox participants

The Hong Kong Monetary Authority announced the list of stablecoin issuers participating in the sandbox. The following institutions will participate in the sandbox, effective from today: JD Coinchain Technology (Hong Kong) Limited, Round Coin Innovation Technology Limited, Standard Chartered Bank (Hong Kong) Limited, ANX Group Limited, and Hong Kong Telecommunications (HKT) Limited. These institutions have demonstrated a genuine willingness and reasonable plan to develop stablecoin issuance business in Hong Kong during the evaluation process, and their proposed operations under the sandbox will be conducted within limited restrictions and controllable risks.