# ArthurYiLaunchesOpenXLabs

Hong Kong's second round of stablecoin licenses opens, but mainland China remains firm
Market sources indicate that the second batch of compliant stablecoin licenses in Hong Kong has entered the application stage.
Reliable sources reveal that Futu Securities and OSL Group are both actively vying for this batch of licenses.
This means Hong Kong is continuing to promote the compliance and financialization of stablecoins, attempting to secure a position within the global digital asset regulatory framework.
However, on the other side, policy signals remain clear. Last year, the People's Ba