ICBC Asia and HSBC have expressed their intention to apply for a stablecoin license to the Hong Kong Monetary Authority
According to a report by the Hong Kong Economic Journal on Monday, unnamed sources indicated that ICBC Asia and HSBC have expressed their intention to apply for the first batch of stablecoin licenses in Hong Kong. The report stated that it is still unclear whether HSBC will formally submit its application by the end of this month. The Hong Kong Monetary Authority confirmed last week that applicants from various sectors have expressed interest, including banks, technology companies, securities firms, e-commerce platforms, payment providers, startups, and Web3 enterprises
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