Gate News message, April 11, Hong Kong Monetary Authority Deputy Chief Executive Chen Weimin said that what type of coin stablecoin issuers choose to issue mainly depends on the applicant’s own choice. Launching a Hong Kong dollar stablecoin first, and in the future issuing other denominations including the renminbi, is allowed under Hong Kong’s regulatory framework, but applicants also need to obtain approval from mainland regulatory authorities. Regarding when the second batch of stablecoin issuer licenses would be issued, Chen Weimin said there is currently no related timeline, but he has been maintaining communication with applicants who are interested in applying for licenses. In addition, HSBC stablecoin will be integrated with both PayMe and the HSBC HK App, supporting real-time transfers between individuals and individuals’ use of services for merchants (P2M).
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