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Hong Kong Issues Inaugural Stablecoin Licenses To Anchorpoint and HSBC
Hong Kong has made a big step toward combining traditional banking with blockchain technology. The Hong Kong Monetary Authority (HKMA) gave its first stablecoin issuer licenses on April 10. The licenses went to HSBC Holdings Plc and Anchorpoint Financial Limited, a joint venture between Standard Chartered Plc, Animoca Brands, and Hong Kong Telecommunications Ltd. The approvals are the end of a competitive procedure that drew 36 candidates. Both licensees already have the authority to print real Hong Kong dollar banknotes, which gives them a natural edge when it comes to making digital versions of the currency. After ... (full story)