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Hong Kong Monetary Authority announces:
The Financial Management Commissioner has granted stablecoin issuer licenses under the Stablecoin Ordinance to two institutions—Dingdian Financial Technology Limited (a company jointly formed by Standard Chartered Bank (Hong Kong), Hong Kong Telecom, and Ansi Group) and HSBC Bank;
So stablecoins are completing their evolution from on-chain dollar instruments to → bank-level financial products. If we redefine stablecoins with modern finance + banking + regulation, what would real competition be?
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