ICBC Asia and HSBC have expressed their intention to apply to the Hong Kong Monetary Authority for a stablecoin license
2025-09-08 02:00:35
According to market news released by the Hong Kong Economic Journal, Industrial and Commercial Bank of China (Asia), a Hong Kong subsidiary of Industrial and Commercial Bank of China, has expressed its intention to apply for a stablecoin license to the Hong Kong Monetary Authority, which is another major Chinese bank after Bank of China Hong Kong. HSBC has also expressed its intention to apply to the Hong Kong Monetary Authority for a stablecoin license. It is not clear whether HSBC will formally submit the application before the end of this month.
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