Standard Chartered
Hong Kong awards stablecoin licences to HSBC and StanChart-led group
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Hong Kong has awarded its first stablecoin issuer licences to HSBC and a joint venture led by Standard Chartered, marking the city's latest step towards becoming a global digital asset hub. HSBC plans to launch its Hong Kong dollar stablecoin in the second half of this year, integrating it into its PayMe and mobile banking platforms.
Standard Chartered and B2C2 have announced a strategic partnership to enhance institutional access to cryptocurrency markets. The collaboration integrates the bank's global infrastructure with the liquidity provider's digital asset services. This move aims to streamline regulated trading for asset managers and other investors.
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Standard Chartered predicts Ethereum will reach $40,000 by 2030, outperforming Bitcoin due to growing onchain finance adoption. The bank's research highlights Ethereum's advantages in tokenisation and stablecoins over Bitcoin's limitations. This outlook comes amid recent adjustments to shorter-term price targets for the cryptocurrency.