Industrial and Commercial Bank of China (Asia) and HSBC Express Intent to Apply for Stablecoin License to the Hong Kong Monetary Authority

By: theblockbeats.news|2025/09/08 10:32:31

0

Share

copy

BlockBeats News, September 8th, according to The Standard, Industrial and Commercial Bank of China (Asia), a subsidiary of Industrial and Commercial Bank of China (ICBC) under Industrial and Commercial Bank of China, has expressed its intention to apply for a stablecoin license to the Hong Kong Monetary Authority, becoming another major Chinese bank to take the same action following Bank of China Hong Kong. HSBC has also expressed its intention to apply for a stablecoin license to the Hong Kong Monetary Authority, but it is currently unclear whether HSBC will formally submit the application by the end of this month.

The Financial Services and the Treasury Bureau has repeatedly stated that only a few stablecoin licenses will be issued in the first phase. However, as of the end of last month, 77 institutions have expressed their intention to apply for a license to the Bureau.

You may also like

From Mining Enterprise to Infrastructure Builder, Bitdeer Unpacks the Survival Logic behind BTC

From Mining Enterprise to Infrastructure Builder, Bitdeer Unpacks the Survival Logic behind BTC

Profit margins nearing the red line, miners are starting to use Bitcoin as fuel.

How Can Agentic Commerce Empower AI to Start Making Money?

How Can Agentic Commerce Empower AI to Start Making Money?

The first wave of moneymaking AIs has arrived, which projects are worth paying attention to

February Correction: Is the Crypto Market Bottoming Out?

February Correction: Is the Crypto Market Bottoming Out?

Based on historical experience, the most intense phase of this downturn may be about to end.

AI Payments Through the Lens of Fintech Giants: Five Levels, Stablecoin Infrastructure, Next-Gen Globalized Commerce

AI Payments Through the Lens of Fintech Giants: Five Levels, Stablecoin Infrastructure, Next-Gen Globalized Commerce

Stripe took fifteen years to turn seven lines of code into a business empire that powers 1.6% of the global GDP. Its next move is to define the next generation of global business rules.

Zuckerberg Retweets Stablecoin, Can Meta Win This "Comeback Game"?

Zuckerberg Retweets Stablecoin, Can Meta Win This "Comeback Game"?

Compared to the Libra era of 2019 when it attempted to disrupt the global financial system, the 2026 Meta is demonstrating a more stable and compliance-oriented approach.

Polymarket New Rule Release: How to Build a New Trading Bot

Polymarket New Rule Release: How to Build a New Trading Bot

In 2026, a truly winning trading Bot is not the fastest taker, but the most excellent liquidity provider

Bitwise: The Institutional Wave is Here, So Why is the Market Still Sleeping?

Bitwise: The Institutional Wave is Here, So Why is the Market Still Sleeping?

There is a significant gap between the perceived cryptocurrency market and the actual cryptocurrency market.

WEEX LALIGA Partnership 2026: Where Football Excellence Meets Crypto Innovation

WEEX LALIGA Partnership 2026: Where Football Excellence Meets Crypto Innovation

WEEX becomes official crypto exchange partner of LALIGA in Hong Kong and Taiwan. Discover how this partnership brings together football excellence and trading discipline.

AI Apocalypse, a massive short squeeze

AI Apocalypse, a massive short squeeze

AI is not the doomsday prophecy, but the dawn of a new era of abundance stemming from the collapse of cognitive cost.

The "Second Truth" of the Luna Crash: Jane Street Exits Ahead of Plunge

The "Second Truth" of the Luna Crash: Jane Street Exits Ahead of Plunge

In the cryptocurrency industry that touts "decentralization," true asymmetry may have never disappeared.

Jane Street Market Manipulation, Stripe Considering Acquiring PayPal, What's the Overseas Crypto Community Talking About Today?

Jane Street Market Manipulation, Stripe Considering Acquiring PayPal, What's the Overseas Crypto Community Talking About Today?

What Was Trending for Expats in the Last 24 Hours?

WEEX × LALIGA 2026: Trade Crypto, Take Your Shot & Win Official LALIGA Prizes

WEEX × LALIGA 2026: Trade Crypto, Take Your Shot & Win Official LALIGA Prizes

Unlock shoot attempts through futures trading, spot trading, or referrals. Turn match predictions into structured rewards with BTC, USDT, position airdrops, and LALIGA merchandise on WEEX.

a16z: Why Do AI Agents Need a Stablecoin for B2B Payments?

a16z: Why Do AI Agents Need a Stablecoin for B2B Payments?

Smart contracts will be more like corporate entities, forming long-term relationships with their vendors and partners.

February 24th Market Key Intelligence, How Much Did You Miss?

February 24th Market Key Intelligence, How Much Did You Miss?

1. On-chain Funds: $172.4M inflow to Ethereum this week; $233.9M outflow from Arbitrum 2. Highest Price Variation: $ESP, $MYX 3. Top News: AC's "Never Rekt" new project Flying Tulip has experienced a rug pull, currently priced at $0.0989

Web4.0, perhaps the most needed narrative for cryptocurrency

Web4.0, perhaps the most needed narrative for cryptocurrency

What is Justin Sun's All-in Web4.0 Vision?

Some Key News You Might Have Missed Over the Chinese New Year Holiday

Some Key News You Might Have Missed Over the Chinese New Year Holiday

On the day of commencement, should we go long or short?

Key Market Information Discrepancy on February 24th - A Must-Read! | Alpha Morning Report

Key Market Information Discrepancy on February 24th - A Must-Read! | Alpha Morning Report

1. Top News: Tariff Uncertainty Returns as Bitcoin Options Market Bets on Downside Risk 2. Token Unlock: $SOSO, $NIL, $MON

$1,500,000 Salary Job: How to Achieve with $500 AI?

$1,500,000 Salary Job: How to Achieve with $500 AI?

The Essence of Agentification: Use algorithms to replicate your judgment framework, replacing labor costs with API costs.

From Mining Enterprise to Infrastructure Builder, Bitdeer Unpacks the Survival Logic behind BTC

Profit margins nearing the red line, miners are starting to use Bitcoin as fuel.

How Can Agentic Commerce Empower AI to Start Making Money?

The first wave of moneymaking AIs has arrived, which projects are worth paying attention to

February Correction: Is the Crypto Market Bottoming Out?

Based on historical experience, the most intense phase of this downturn may be about to end.

AI Payments Through the Lens of Fintech Giants: Five Levels, Stablecoin Infrastructure, Next-Gen Globalized Commerce

Stripe took fifteen years to turn seven lines of code into a business empire that powers 1.6% of the global GDP. Its next move is to define the next generation of global business rules.

Zuckerberg Retweets Stablecoin, Can Meta Win This "Comeback Game"?

Compared to the Libra era of 2019 when it attempted to disrupt the global financial system, the 2026 Meta is demonstrating a more stable and compliance-oriented approach.

Polymarket New Rule Release: How to Build a New Trading Bot

In 2026, a truly winning trading Bot is not the fastest taker, but the most excellent liquidity provider

Popular coins

Latest Crypto News

14:01

Coinbase CEO Calls on UK Users to Sign Petition for Stablecoin Regulation, Urges Government to Appoint Blockchain Transaction Commissioner

BlockBeats News, February 25th, Coinbase CEO Brian Armstrong stated, "The UK's stablecoin regulations are being finalized, which may hinder the UK's competitiveness in the global digital economy. For example, the Bank of England has proposed setting limits on the amount of stablecoins individuals an...

14:01

Spot Gold Hits $5200/Ounce, Silver Surges 4% Intraday

BlockBeats News, February 25th, according to Bitget market data, spot gold touched $5200 per ounce, up 1.13% intraday.Spot silver surged 4% intraday, currently trading at $90.67 per ounce.

14:01

Trader 0xRay has increased their long position on Nvidia to $16.4 million, now holding the largest on-chain NVDA long position

BlockBeats News, February 25th, according to Coinbob popular address monitoring, well-known crypto trader Ray (X: 0xRay518) increased his leverage by 6 times in the past 24 hours on his NVDA (NVIDIA perpetual contract) long position. This additional investment was approximately $2.019 million, with ...

09:01

Institution: Projected 2030 Forecast Market Annual Revenue to Reach $10 Billion

BlockBeats News, February 25th. According to a report released by the US bank Citizens on Monday, the predicted market annual revenue has surged from around $2 billion in December to over $3 billion currently, with expectations to reach $10 billion by 2030. Analysts point out that the accelerating t...

09:01

Vitalik: DeFi is a crucial part of Ethereum's core values and will reclaim the early DeFi spirit in the future

BlockBeats News, February 25th, Ethereum founder Vitalik posted on social media stating that DeFi is a critical part of Ethereum's core values. Financial empowerment is a key dimension in achieving autonomy and freedom in today's world. Finance is far from Ethereum's sole purpose, but it is vital.Th...