Key facts: HSBC eyed for HKMA stablecoin license; Ida Liu heads $566B PB
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HSBC is expected to be one of the first recipients of a stablecoin license from the Hong Kong Monetary Authority (HKMA), which has received 36 applications, with initial licenses anticipated by March 2026. Additionally, Ida Liu has been appointed as the head of private banking at HSBC, overseeing a unit that manages approximately $566 billion in client balances, crucial for the bank's wealth management strategy.
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