Hong Kong Issues First Stablecoin Licenses to HSBC and Anchorpoint Financial
News Source : Bitcoinfoundation.org
News Summary
- The Hong Kong Monetary Authority (HKMA) has issued its first stablecoin issuance licenses.Licenses went to HSBC (through its Hong Kong banking arm) and Anchorpoint Financial, a joint venture of Standard Chartered, Animoca Brands, and Hong Kong Telecommunications.
- The regulator expects regulated stablecoins to help address financial and economic activity challenges, improve convenience for businesses and individuals, and contribute to the sustainable development of the digital asset market.
- HKMA previously received 36 license applications.
- A second round of approvals is expected soon.
Hong Kongs monetary authority, the Hong Kong Monetary Authority (HKMA), has issued its first stablecoin issuance licenses.Licenses went to HSBC (through its Hong Kong banking arm) and Anchorpoint [+1568 chars]
Never miss a story from us, subscribe to our newsletter