Hong Kong Issues First Stablecoin Licenses to HSBC, Standard Chartered-led Consortium

In an industry first, Hong Kong has awarded HSBC and a consortium led by Standard Chartered the city’s first stablecoin issuer licenses, marking its latest step towards embracing the industry’s leading use case. Commenting on the matter was Darryl Chan, the deputy chief executive of the Hong Kong Monetary Authority (HKMA), who said: The two applicants have experience in traditional financial and risk mana…