Hong Kong has broken new ground by granting HSBC and a group of banks headed by Standard Chartered licenses to issue stablecoins – a key move in the city’s growing involvement with this emerging technology.
Darryl Chan, a deputy chief executive at the Hong Kong Monetary Authority (HKMA), offered these comments:
Both candidates have backgrounds in standard finance and managing financial risk, making them well-suited for this role. The goal of stablecoins is to connect traditional and digital financial systems, and their experience aligns with that aim.
These licenses permit companies to create stablecoins linked to the Hong Kong dollar and to process international payments.
According to business plans submitted by the licensees, they expect to be ready to start operations in the next few months, as reported by the South China Morning Post.
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2026-04-10 12:40