CHINA 33MEDIA (08087.HK) announced plans to apply for a stablecoin license in Hong Kong. Funding will be sourced from net proceeds of new share placements under a general mandate and existing cash reserves.
This strategic move follows Hong Kong's gazettal of the Stablecoin Ordinance (Effective Date) Notice on June 6, 2025, designating August 1, 2025, as the commencement date for the Stablecoin Ordinance (Chapter 656). The legislation establishes a licensing framework to regulate stablecoin-related activities in the region.
The Board views this regulatory development as a pivotal opportunity to expand into the cryptocurrency sector. Leveraging extensive experience serving retail customers with substantial cross-border and local payment needs, the group believes stablecoin integration will significantly enhance payment efficiency and reduce transaction costs.
Preparatory work for the license application is already underway. CHINA 33MEDIA will continue exploring and deploying technological services, including stablecoin payment solutions, to optimize transactions and improve consumer experiences. The initiative aims to advance stablecoin adoption across retail payment ecosystems.
Additionally, the company intends to actively participate in Hong Kong's regulatory sandbox program, supporting stablecoin issuance and application development. These efforts align with Hong Kong's ambition to become a global hub for digital asset ecosystems.
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