Hong Kong crypto exchange OSL sees optimism rise as city enters stablecoin era

Hong Kong-based OSL Group, the city’s first listed and licensed virtual-asset trading platform, sees optimism rise in the local market as the stablecoin law comes into effect this Friday.

That assessment was made by Gary Tiu, executive director and head of regulatory affairs at OSL, at a symposium on Thursday about Hong Kong’s stablecoin era.

The Hong Kong Monetary Authority (HKMA) is likely to issue the first batch of stablecoin licences early next year, as the city’s de facto central bank urged potential issuers to submit their applications by the end of September.