Odaily Planet Daily reports that HSBC and the Industrial and Commercial Bank of China (ICBC) plan to apply for stablecoin licenses from the Hong Kong Monetary Authority (HKMA), following the recent implementation of new regulations. Reports indicate that Standard Chartered Bank and ICBC are expected to be among the first group of licensees, giving them a head start. Previously, the HKMA stated it expected to issue only a small number of stablecoin licenses in the initial round. As of the end of August, 77 institutions had expressed interest in applying, with some applicants expressing the view that the requirements were more stringent than expected. (Cointelegraph)