The Small Commodity City stated that it will submit a license application as soon as the stablecoin regulations in Hong Kong are clarified.

Odaily News On whether to prepare to apply for a Hong Kong stablecoin license, the Small Commodity City stated on the interactive platform on the 18th that the company operates the world’s largest small commodity trading market, naturally possessing a large volume and high-frequency cross-border trade settlement scenarios. Innovative payment tools such as stablecoins have the potential to provide more efficient and low-cost cross-border payment solutions for global customers, especially small and medium-sized enterprises, aligning with our mission to serve the real economy. We welcome and support Hong Kong’s positive progress in the stablecoin regulatory framework, and the company’s cross-border payment platform “YiwuPay” will continue to pay attention to the relevant regulatory processes, and will actively assess and submit relevant applications as soon as the regulations are clear and the paths are unobstructed. (Jin10)