Gate News bot message, according to a report by the Hong Kong Economic Journal citing unnamed sources, ICBC Asia and HSBC have expressed their intention to apply for a stablecoin license to the Hong Kong Monetary Authority. It is currently unclear whether HSBC will formally submit the application before the end of this month.
Previously, a spokesperson for the Hong Kong Monetary Authority revealed that as of August 31, a total of 77 institutions expressed their intention to apply for stablecoin licenses, covering multiple sectors including banks, technology companies, securities/asset management/investment firms, e-commerce, payment institutions, and startups/Web3 companies. The spokesperson emphasized that only a few stablecoin licenses would be approved in the initial phase of the regulation's implementation.
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