HSBC Considers Non-HKD Stablecoins and Targets H2 Launch for HKD Stablecoin
HSBC is considering offering stablecoins denominated in currencies other than the Hong Kong dollar and may integrate other regulated stablecoins in Hong Kong, according to comments from its global custody products head. According to ChainCatcher, Gu Zhongyi said the bank believes such stablecoins could improve cross-border transfer services for Hong Kong and other regions once implemented. Gu added that HSBC is aiming to launch a Hong Kong dollar stablecoin as early as the second half of the year. He said the issued stablecoin would be integrated into the bank’s own app within investment and payment workflows and would support investment in tokenized assets.
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