Xinbao: ICBC Asia and HSBC have expressed their intention to apply for stablecoin licenses to the Hong Kong Monetary Authority

According to the Xinbao, citing unnamed sources, ICBC Asia and HSBC have expressed their intention to apply to the Hong Kong Monetary Authority for stablecoin licenses. It is not clear whether HSBC will submit its application formally by the end of this month. Foresight News Previous news, according to the Hong Kong Economic Daily, a spokesperson for the Hong Kong Monetary Authority said that as of August 31, there were 77 cases of expressing their intention to apply for stablecoin licenses to the HKMA, including banks, technology companies, securities/asset management/investment companies, e-commerce, payment institutions, start-ups/Web3 companies, etc. A spokesperson for the HKMA once again stated that in the early stages of the implementation of the regulations, only a few stablecoin licenses will be approved.