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

Odaily reported that the Hong Kong Monetary Authority is striving to issue the first batch of stablecoin issuer licenses in March. Previously, there were reports that certain exchanges are expected to become the first approved institutions. In response, Georges Elhedery, Group Chief Executive of HSBC Holdings, stated that HSBC is interested in participating in all innovative developments in Hong Kong and hopes to play a role in them. Stablecoins can enable seamless, instant trade payments 24/7. Hong Kong allows HSBC to explore related innovative technology services for the financial system, such as tokenized deposits, which are part of this ecosystem. Currently, HSBC has already used blockchain technology to help issue bonds, such as Hong Kong government sustainable bonds, and is also involved in tokenized gold business.