The post ICBC Asia and HSBC Pursue Hong Kong Stablecoin Licenses appeared on BitcoinEthereumNews.com. Key Points: ICBC Asia and HSBC signal their interest in stablecoin licenses. The HKMA plans to initially approve fewer than 10 licenses. Hong Kong’s stablecoin regulation sets a potential precedent for Asia. ICBC Asia and HSBC are planning to apply for stablecoin issuer licenses from the Hong Kong Monetary Authority, as part of Hong Kong’s new stablecoin regulations starting August 1, 2025. This initiative highlights institutional efforts to engage with digital currencies, potentially impacting liquidity and including major banks in the emerging stablecoin sector in Hong Kong. Key Developments, Impact, and Reactions ICBC Asia and HSBC‘s interest underscores potential commitment from financial powerhouses to Hong Kong’s stablecoin landscape. The HKMA‘s invitation-based licensing system further emphasizes the selective nature of this initiative. This regulatory direction aims to carefully balance market growth and stability. Fewer than 10 licenses are anticipated to be initially approved. Eddie Yue, CEO of HKMA, resonated with the sentiment that the market “has become overly excited,” suggesting a moderated approach. Major stakeholders await further announcements, reflecting ongoing internal deliberations. Community and market observers have noted the cautious enthusiasm accompanying this regulatory phase. Eddie Yue, CEO of HKMA, further noted, “The HKMA is likely to approve fewer than 10 stablecoin licenses in the initial phase.” Hong Kong’s Stablecoin Regulations: A Precedent for Asia Did you know? Hong Kong’s new regulatory approach requires stablecoin assets to be backed by high-quality reserves, setting a precedent in Asia’s digital currency landscape. Tether USDt (USDT), a prominent stablecoin by market influence, currently trades at $1.00, supported by a market cap of formatNumber(168896526985, 2). Its 24-hour trading volume stands at formatNumber(76816721705, 2), denoting a 19.96% change. Over the past quarter, its price showed minor variations reflecting .01%. Data sourced from CoinMarketCap shows stability with negligible 90-day price changes. Tether USDt(USDT), daily chart, screenshot on… The post ICBC Asia and HSBC Pursue Hong Kong Stablecoin Licenses appeared on BitcoinEthereumNews.com. Key Points: ICBC Asia and HSBC signal their interest in stablecoin licenses. The HKMA plans to initially approve fewer than 10 licenses. Hong Kong’s stablecoin regulation sets a potential precedent for Asia. ICBC Asia and HSBC are planning to apply for stablecoin issuer licenses from the Hong Kong Monetary Authority, as part of Hong Kong’s new stablecoin regulations starting August 1, 2025. This initiative highlights institutional efforts to engage with digital currencies, potentially impacting liquidity and including major banks in the emerging stablecoin sector in Hong Kong. Key Developments, Impact, and Reactions ICBC Asia and HSBC‘s interest underscores potential commitment from financial powerhouses to Hong Kong’s stablecoin landscape. The HKMA‘s invitation-based licensing system further emphasizes the selective nature of this initiative. This regulatory direction aims to carefully balance market growth and stability. Fewer than 10 licenses are anticipated to be initially approved. Eddie Yue, CEO of HKMA, resonated with the sentiment that the market “has become overly excited,” suggesting a moderated approach. Major stakeholders await further announcements, reflecting ongoing internal deliberations. Community and market observers have noted the cautious enthusiasm accompanying this regulatory phase. Eddie Yue, CEO of HKMA, further noted, “The HKMA is likely to approve fewer than 10 stablecoin licenses in the initial phase.” Hong Kong’s Stablecoin Regulations: A Precedent for Asia Did you know? Hong Kong’s new regulatory approach requires stablecoin assets to be backed by high-quality reserves, setting a precedent in Asia’s digital currency landscape. Tether USDt (USDT), a prominent stablecoin by market influence, currently trades at $1.00, supported by a market cap of formatNumber(168896526985, 2). Its 24-hour trading volume stands at formatNumber(76816721705, 2), denoting a 19.96% change. Over the past quarter, its price showed minor variations reflecting .01%. Data sourced from CoinMarketCap shows stability with negligible 90-day price changes. Tether USDt(USDT), daily chart, screenshot on…