Major Banks HSBC and Standard Chartered Win Initial Stablecoin Licenses, Hong Kong Digital Financial Infrastructure Takes Key Leap

On April 10th, the Hong Kong Monetary Authority officially announced the awarding of stablecoin issuer licenses to Anchorpoint Financial Technologies Limited (a joint venture of Standard Chartered) and Hongkong and Shanghai Banking Corporation Limited to issue stablecoins in Hong Kong. With the licenses effective immediately, the two companies plan to commence operations in the coming months upon completion of necessary preparations. Following the issuance of the first batch of licenses, the market focuses on the approval pace and issuance plans of subsequent stablecoin issuers. Hong Kong Monetary Authority’s Chief Executive Eddie Yue emphasized the importance of continued effective regulation post-launch…