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HSBC and Standard Chartered Bank have obtained stablecoin licenses in Hong Kong.

On April 10, the Hong Kong Monetary Authority reported: The Financial Commissioner has granted stablecoin issuer licenses to two institutions under the "Stablecoin Ordinance"—Dingdian Financial Technology Co., Ltd. (a joint venture by Standard Chartered Bank (Hong Kong), Hong Kong Telecom, and the Anhe Group) and HSBC, marking a new stage in the implementation of Hong Kong's stablecoin regulatory system.

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