HSBC, Standard Chartered Expected Among First Recipients of Hong Kong Stablecoin Licenses

HSBC and Standard Chartered are expected to be among the first recipients of stablecoin licenses in Hong Kong under a new regulatory framework, South China Morning Post reports. Both banking groups could be included in the initial approval batch, with authorities requiring firms to secure licenses before issuing any stablecoins. Regulators plan to prioritize note-issuing banks in the review process, and approvals could be granted as early as late March.