HSBC’s latest move is steady: major traditional financial powerhouses are moving into the stablecoin space. In the second half of the year, look at how Hong Kong dollar stablecoins will stir up the market.

Crypto World News reports that according to Mobile Payment Network, HSBC Global Custody Product General Manager Gu Zhongyi stated that HSBC has obtained a stablecoin issuer license in Hong Kong, planning to launch a Hong Kong dollar stablecoin as early as the second half of the year, and integrate it into their own app's investment and payment processes. Gu Zhongyi said that HSBC also plans to expand tokenized investment products and is considering launching stablecoins not denominated in Hong Kong dollars to optimize cross-border transfer services. Additionally, HSBC is researching the integration of other regulated stablecoins in Hong Kong.