News: ICBC Asia and HSBC have expressed their intention to apply for a stablecoin license to the Hong Kong Monetary Authority

ChainCatcher news, according to a report by the Hong Kong Economic Journal citing unnamed sources, ICBC Asia and HSBC have expressed their intention to apply for a stablecoin license to the Hong Kong Monetary Authority. It is still unclear whether HSBC will formally submit the application by the end of this month.

According to previous news, the Hong Kong Economic Daily reported that a spokesperson for the Hong Kong Monetary Authority stated that as of August 31, there were a total of 77 cases expressing intention to apply for a stablecoin license, including banks, technology companies, securities/asset management/investment companies, e-commerce, payment institutions, and startup/Web3 companies. The spokesperson reiterated that only a few stablecoin licenses would be approved in the initial phase of the regulations.