HSBC CEO responds to Hong Kong stablecoin license application: hopes to take on a responsible role

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Deep Tide TechFlow News, March 2nd, according to Hong Kong media Hong Kong 01, the Hong Kong Monetary Authority is working to issue the first stablecoin issuer licenses in March. Previously, there were reports that HSBC and Standard Chartered are expected to be the first approved institutions. In response, HSBC Holdings CEO Georges Elhedery stated that HSBC is interested in participating in all of Hong Kong’s innovation developments and hopes to play a role in them. Stablecoins can enable seamless, real-time trade payments 24/7. Hong Kong allows HSBC to explore related innovative financial services, such as tokenized deposits, which are part of this ecosystem. Currently, HSBC has used blockchain technology to help issue bonds, such as Hong Kong government sustainable bonds, and is also involved in tokenized gold business.

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