Fosun International Pursues Stablecoin License
Fosun International has officially announced its pursuit of a stablecoin license in Hong Kong, as per reports by Tencent News. The company has assembled a dedicated team for this application process.
Leadership and Meetings
Notably, on August 6, Guo Guangchang, the founder of Fosun, took the initiative to guide the core team specializing in stablecoins, alongside other high-ranking company officials. They conducted meetings with Carrie Lam, the Chief Executive of the Hong Kong Special Administrative Region, and Paul Chan, the region’s Financial Secretary.
Digital Asset Initiatives
Through its subsidiary, Fosun Wealth, the company is already making strides in the realm of digital assets. This includes its involvement in a tokenization initiative for a money market fund in partnership with Huaxia Fund, as well as the creation of a platform focused on Real World Asset (RWA) tokenization via its Starpath Technology platform.
Application Timeline
The Hong Kong Monetary Authority has set in motion a timeline for entities wishing to apply for a stablecoin license. As of August 1, these organizations are encouraged to reach out to the authorities, with the deadline for formal applications approaching on September 30. As of the latest updates, Fosun has yet to make any public statements regarding their application.
