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JUST IN: Hong Kong grants its first stablecoin licenses. HSBC and a company belonging to the consortium led by Standard Chartered were the first to be approved. Rather than opting for a CBDC (Central Bank Digital Currency), the regulator is betting on strictly controlled tokens issued by banks.
This decision seeks to integrate stablecoins into the traditional financial system under direct supervision, and serves as another clear sign that stablecoins are becoming firmly established within the global economy.