CHINA 33MEDIA plans to apply for a stablecoin license in Hong Kong
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CHINA 33MEDIA plans to apply for a stablecoin license in Hong Kong, with funding sources including proceeds from new share placements and existing cash reserves. The Hong Kong government will implement the "Stablecoin Ordinance" on August 1, 2025, to regulate stablecoin activities. The board believes this is a strategic opportunity to enter the cryptocurrency field, as stablecoins will enhance payment efficiency and reduce costs. The group will continue to explore technology services, optimize payment solutions, and participate in Hong Kong's regulatory pilot program to promote the application of stablecoins
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