TechFlow News: On April 11, according to the Hong Kong Wen Wei Po, Norman Chan, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA), stated that stablecoin issuers may choose which currency to issue based on their own preferences. While the first stablecoin to be launched is the Hong Kong dollar (HKD) stablecoin, issuing stablecoins pegged to other currencies—including the renminbi (RMB)—is permitted under Hong Kong’s regulatory framework. However, applicants must also obtain approval from mainland Chinese regulatory authorities. Regarding when the second batch of stablecoin issuer licenses will be issued, Chan indicated that no official timeline has been set, though the HKMA continues to engage with prospective license applicants. It is reported that HSBC’s stablecoin will be integrated into both the PayMe and HSBC HK mobile applications, supporting real-time person-to-person (P2P) transfers as well as person-to-merchant (P2M) services.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
