The Hong Kong Monetary Authority (HKMA) will grant only a limited number of stablecoin licenses in its first round, according to the Hong Kong Economic Journal. So far, 77 institutions have expressed interest. ICBC (Asia) has joined BOC Hong Kong in planning to apply, while HSBC has also shown interest. Industry insiders believe Standard Chartered and BOC Hong Kong are among the frontrunners expected to receive initial approval from the regulator.
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