HKMA announces stablecoin issuer sandbox participants
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (July 18) the list of participants of the stablecoin issuer sandbox. The following institutions (in alphabetical order of their names) will participate in the sandbox with effect from today:
During the assessment process, these institutions were able to demonstrate genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan, and that their proposed operations under the sandbox arrangement would be conducted within a limited scope and in a risk-controllable manner.
The sandbox, which was launched in March 2024, is part of the HKMA's efforts in facilitating the sustainable and responsible development of stablecoin ecosystem in Hong Kong. Through the sandbox, the HKMA allows institutions with plans to issue stablecoin in Hong Kong to conduct testing on their operational plans, and also facilitates the two-way communication on the proposed regulatory requirements, with a view to formulating fit-for-purpose and risk-based regulatory regime.
Sandbox participants are expected to comply with the sandbox requirements. They will not handle the general public's funds at the initial stage, and will not solicit funding from the public or offer any products associated with the sandbox. Members of the public should stay vigilant to potential scams purporting to be related to the sandbox. The HKMA will make separate announcement in case sandbox participants are allowed to handle the general public's funds within a limited scope as a result of adjustments to the testing scope.
The HKMA will continue to handle enquiries and applications for sandbox participation. Announcements will be made in a timely manner for any new participants joining the sandbox.
Source: AI-generated images
Hong Kong Pop Culture Festival's outdoor music carnival "ImagineLand 2025" to be held today and tomorrow
Outdoor music carnival "ImagineLand 2025", the highlight programme of the Hong Kong Pop Culture Festival 2025 (PCF), is being held today and tomorrow (April 5 and 6) from noon to 10pm at the Hong Kong Cultural Centre (HKCC) Piazza, the Central Lawn & Event Trellis of Salisbury Garden, and the Avenue of Stars free of charge. Today's (April 5) carnival has attracted many citizens and tourists to watch and participate in its performances and activities.
The PCF is organised by the Leisure and Cultural Services Department (LCSD), and one of the programmes, "ImagineLand 2025", is supported and sponsored by the Cultural and Creative Industries Development Agency. The Carnival features both daytime and evening programmes. "Go Beyond Concert", "Comics Fun Experience Gallery" and "Funarts Corner" are available during the day, whereas film programme "Movie Under the Stars" will be held at night.
"Go Beyond Concert", curated by veteran music professionals Dr Wong Chi-chung, Chiu Tseng-hei and Vicky Fung, together with young jazz musician Alan Kwan as guest curator, showcases three stages at the Hong Kong Cultural Centre Piazza, namely the Forest Stage, Grove Stage and Seed Stage, featuring over 35 musicians and artists from Hong Kong and eight countries and regions to perform mesmerising popular songs and original works. Today's performances at the Forest Stage featured local pop singers such as Ivana Wong, Joey Tang, Cloud, Ashley Lin, and overseas artists including Didirri from Australia, Sunwoojunga from Korea and more. The Grove Stage showcased performances of different musical styles including electronic, jazz, and rap, while the Seed Stage featured energetic performances by young musicians, filling the Piazza with a multicultural atmosphere.
Tomorrow's (April 6) performances are also unmissable. The line-up includes erhuist and film composer Wan Pin Chu, the winner of Best Original Music of the 18th Asian Film Awards Ceremony, who will share the stage with renowned local singer-songwriter Yatfung and a cappella group Boonfaysau. Local band Pandora and visiting music groups or musicians, including Naked Feel (the Mainland and Ukraine) , Mathis Picard Trio (France, the United States and the United Kingdom), Invisible Architecture (the United States) and Tomoaki Baba (Japan), will also perform on stage, which should not be missed.
"Comics Fun Experience Gallery" is now on display featuring Hong Kong comics and animation from different eras and popular characters including Old Master Q, Sau Nga Chun, Ngau Chai and Father from Myboy, Din Dong, Tai Ma Shing, and more to highlight the creativity of local artists. There are themed photo spots where iconic props and fiberglass comic characters are set up for visitors to take pictures with their favourite characters. The exhibition will continue at the HKCC until May 7, and then move to Event Space 1.1, VESSEL, Kwun Tong, for display from May 10 to 29.
There is a "Funarts Corner" with yarn spinning, paper fan imprinting, a joyful caricature studio, sound healing and music instrument workshops. Visitors can explore and experience Hong Kong's pop culture in many different ways through the workshops that blend art, music, and crafts.
"Movie Under the Stars" will be staged at 8pm on both evenings. "Table For Six" (2022) will be screened tonight and "Forbidden City Cop" (1996) on April 6. Audiences can enjoy local comedies while relaxing on the outdoor lawn.
This year, the LCSD presents the third Hong Kong Pop Culture Festival, themed "More Than Joy". Humour has been a trendsetter in Hong Kong's pop culture scene. The Festival features a diverse range of formats including stage performances, film screenings, thematic exhibitions, and library and outreach activities. Offering insight into the multifaceted development of Hong Kong's pop culture along the line of "happiness", the Festival brings audiences not only joy and laughter but also an opportunity to appreciate how pop culture can be transmitted and transformed, and how integration and breakthroughs are possible. For more information, please visit www.pcf.gov.hk/en.
Hong Kong Pop Culture Festival's outdoor music carnival "ImagineLand 2025" to be held today and tomorrow Source: HKSAR Government Press Releases
Hong Kong Pop Culture Festival's outdoor music carnival "ImagineLand 2025" to be held today and tomorrow Source: HKSAR Government Press Releases
Hong Kong Pop Culture Festival's outdoor music carnival "ImagineLand 2025" to be held today and tomorrow Source: HKSAR Government Press Releases
Hong Kong Pop Culture Festival's outdoor music carnival "ImagineLand 2025" to be held today and tomorrow Source: HKSAR Government Press Releases
Hong Kong Pop Culture Festival's outdoor music carnival "ImagineLand 2025" to be held today and tomorrow Source: HKSAR Government Press Releases
