Vanuatu State-Owned Enterprise South Pacific Digital Technology Establishes Headquarters in Hong Kong, Intends to Apply for Stablecoin Issuer License

Foresight News reports, citing Hong Kong Wen Wei Po, that the Republic of Vanuatu, a South Pacific nation, held a national resource promotion event in Hong Kong. At the same time, South Pacific Digital Technology Holdings, led by the Vanuatu government as the major shareholder, signed memorandums of understanding on site with JiaMi Technology, Yunzhisheng, Tridens Investment, and a certain exchange corporation. Zeng Xiangyun, Executive Director of South Pacific Digital Technology Holdings, stated that the cooperation with the four technology companies aims to develop the Web3 sector, including digital assets, cryptocurrency trading platforms, payment technology, and artificial intelligence. The company is also considering applying for a stablecoin issuer license after Hong Kong’s Stablecoin Regulation comes into effect on August 1, with application scenarios involving payments and trade.