HSBC CEO Responds to Hong Kong Stablecoin License Application: Hopes to Play a Role

Odaily News: The Hong Kong Monetary Authority (HKMA) is striving to issue the first batch of stablecoin issuer licenses in March. Previously, there were reports that HSBC and Standard Chartered Bank are expected to be among the first round of approved institutions. In response, Georges Elhedery, Group Chief Executive of HSBC Holdings, stated that HSBC is interested in participating in all of Hong Kong's innovative developments and hopes to play a role it can undertake within them. Stablecoins enable seamless, instant, 24/7 trade payments, and Hong Kong provides HSBC with the opportunity to explore related innovative technologies serving the financial system, such as tokenized deposits, which are part of this ecosystem. Currently, HSBC has already utilized blockchain technology to assist in bond issuance, such as the Hong Kong government's sustainable bonds, and is also involved in tokenized gold businesses. (Hong Kong 01)