HSBC signals intent to join Hong Kong’s stablecoin regime amid digital innovation push
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HSBC has signaled its intention to participate in Hong Kong's upcoming stablecoin regime, citing the city's robust regulatory environment and potential for digital asset innovation. CEO Georges Elhedery indicated ongoing discussions with the Hong Kong Monetary Authority (HKMA), which is expected to issue the first stablecoin issuer licenses in March. While declining to confirm a formal application, Elhedery emphasized HSBC's commitment to investing in Hong Kong's technology and growth opportunities. Industry sources suggest HSBC may have applied or is partnering with other firms for a license. HSBC's involvement would be contingent on appropriate regulation, specifically in markets like Hong Kong. The move aligns with Hong Kong's ambition to become a digital asset trading hub.
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