China SanSan Media, a Hong Kong-listed company under ticker 08087.HK, is preparing to enter the regulated digital asset space by applying for a stablecoin licence.
The announcement arrives just weeks ahead of the city’s incoming regulatory framework for fiat-referenced stablecoins, set to take effect on 1 August 2025.
The company intends to finance the licensing process using internal cash reserves and capital raised from new share placements, according to a recent stock exchange filing.
Far from being a newcomer to financial technology, China SanSan Media—also known as China 33 Media Group—is a diversified group with active operations in advertising, film investment, and global payments.
Founded in China and listed in Hong Kong since 2011, the company gained early traction as a dominant media operator across the country’s fast-expanding high-speed rail network.
It distributes in-train magazines and runs large-format LED and lightbox advertising across rail stations and airports, giving it access to a high-value, mobile consumer base.
In recent years, SanSan has pivoted into fintech.
In 2016, it was awarded one of Hong Kong’s rare Stored Value Facility (SVF) licences from the Hong Kong Monetary Authority—a credential that allows it to legally offer prepaid card services and digital payment solutions.
These include anonymous global gift cards, corporate payroll cards, and personal savings cards with transfer and withdrawal functions.
The group now sees stablecoins as a natural extension of that business.
Hong Kong's new rules under the Stablecoins Ordinance (Chapter 656) will restrict the issuance and retail distribution of stablecoins unless the issuer holds an official licence.
The Hong Kong Monetary Authority (HKMA) confirmed that “only coins from licensed issuers will be permitted for retail offering in Hong Kong,” effectively limiting market activity to entities that meet strict compliance and capital requirements.
China SanSan Media sees this as a timely opportunity to pivot into digital payments.
With a sizeable retail user base and experience in servicing payment needs, the firm said it believes stablecoins can “significantly improve payment efficiency and lower transaction costs.”
The company has already begun preparing for the application and is exploring additional technology offerings related to stablecoin payments.
According to its board, this direction is part of a wider ambition to enhance the consumer payment experience and promote stablecoin use in both local and cross-border retail scenarios.
While many firms are expected to enter the application queue, regulators are unlikely to approve a large number of licences early on.
This has made the moves by companies like SanSan especially significant to crypto observers watching how regulated stablecoins might reshape regional payment infrastructure.
Despite the strategic nature of this pivot, SanSan’s announcement has so far stirred limited market reaction.
There has been no notable on-chain movement linked to the news, and leading industry figures have not yet commented on the firm’s entry.
Still, the wider community remains alert, given the limited number of licences expected to be issued.
The timing of China SanSan Media’s shift highlights a broader industry realignment as media and tech firms edge into the digital finance space.
With stablecoins gaining regulatory clarity, the line between traditional services and crypto infrastructure is starting to blur.
Hong Kong’s strict licensing model could become a blueprint for neighbouring markets navigating how to supervise emerging forms of digital money.
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