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ICBC Asia and HSBC Express Intention to Apply for Stablecoin License to Hong Kong Monetary Authority

Summary: According to reports from the Sing Tao Daily, ICBC's Hong Kong subsidiary, ICBC (Asia), has expressed its intention to apply for a stablecoin license to the Hong Kong Monetary Authority, following in the footsteps of another major Chinese bank, Bank of China Hong Kong. HSBC has also expressed intention to apply for a stablecoin license ...

According to reports from the Sing Tao Daily, ICBC's Hong Kong subsidiary, ICBC (Asia), has expressed its intention to apply for a stablecoin license to the Hong Kong Monetary Authority, following in the footsteps of another major Chinese bank, Bank of China Hong Kong. HSBC has also expressed intention to apply for a stablecoin license to the Hong Kong Monetary Authority, but it is currently unclear whether HSBC will formally submit the application by the end of this month.

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