BOC HONG KONG's stock price soared over 7% today, reaching a peak of HKD 38.2 during intraday trading, setting a new historical high. This surge is attributed to market news that BOC HONG KONG is preparing to apply for a stablecoin issuer license, aiming to become one of the first local financial institutions to be approved.
Although it is not yet confirmed which partners the bank will collaborate with for the application, reports indicate that BOC HONG KONG places great importance on its stablecoin business layout. It is understood that BOC HONG KONG was not included in the three stablecoin issuer sandbox institutions piloted by the Hong Kong Monetary Authority, but has already established a dedicated internal team to actively promote the progress of related plans. The industry generally believes that stablecoins have become a key component in the development of digital assets, and if they can connect with offshore RMB in the future, it will further assist in the internationalization of the RMB. BOC HONG KONG not only sees long-term potential in stablecoins but also hopes to seize the initiative in this wave of innovation. This move also reflects the local banking industry's active exploration of new opportunities in digital finance, unwilling to fall behind regional and global peers

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BOC HONG KONG's stock price soared over 7% today, reaching a intraday high of 38

- Bank of China Hong Kong's stock price surged over 7%, reaching a record high of 38.2 HKD, driven by news of its plans to apply for a stablecoin issuer license.  
- Although not included in the Hong Kong Monetary Authority's pilot program for stablecoin issuers, the bank has formed a dedicated team to advance its plans.  
- The move highlights the growing importance of stablecoins in digital asset development and reflects the local banking sector's eagerness to explore new digital finance opportunities.

BOC HONG KONG's stock price hits a new high, actively competing for stablecoin issuance licenses